Location:
5765 Mount Alifan Drive, in the Clairemont
community, San Diego.
Project Description:
Consists
of 24 two-story garden style apartment buildings. There
are 312 units -- 276 two-bedrooms and 36 three-bedrooms.
Approximately 70% of the units are rented to families
earning 60% or less area median income. Rent levels
for the remaining units are for families earning 85%
area median income.
Background and Status:
Purchased in June 2000. Property renovation
of over $3 million was completed in December 2001. A
limited partnership between Wakeland and Fairfield Residential.
Wakeland is the managing general partner; Fairfield
the co-general partner.
Property Management:
Fairfield Residential
Financing Sources:
Tax-exempt bonds, tax credits and
a loan from the San Diego Housing Commission.
Resident Services:
Resident services include after-school
programs, computer classes and a variety of sports activities.
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