A below-market-price housing complex of 42 one-, two- and three-bedroom apartments for low-income families is now ready for its San Luis Obispo residents.
The Village at Broad Street, developed by ROEM Corp., is on the east side of Broad Street between Santa Barbara and Alphonso streets, near the Fresh & Easy Neighborhood Market that opened last week.
The city provided a $1 million housing loan from its housing trust fund to the developer and waived $870,000 in water, sewer and traffic impact fees — a form of tax on new buildings — to help the project advance.
“One of the goals of the city is to improve affordable housing stock,” said Derek Johnson, the city’s community development director. “And we know by talking to residents that it is important to the community and employers.”
The apartments, already leased, are being rented to families with annual incomes ranging from 30 percent to 60 percent of the county median income.
The area’s median household income is $57,365 a year, according to the U.S. Census Bureau.
Amenities include a community room with kitchen and library, a computer center, a fitness room and an outdoor playground. The project was built with sustainable building methods.
“We are proud to partner with ROEM and the city on this desperately needed housing as this project is an important addition to our community,” Jerry Rioux, executive director of the San Luis Obispo County Housing Trust Fund, said in a news release.