Vista Azul is BRIDGE Housing’s third affordable housing community in Carlsbad, bringing its portfolio in the City to more than 500 affordable units
CARLSBAD, Calif. (November 6, 2024) – BRIDGE Housing, the leading nonprofit affordable housing developer and manager on the West Coast, celebrated the grand opening of a new 70-unit affordable housing community in Carlsbad today, joined by Mayor Keith Blackburn along with other dignitaries and community members.
Vista Azul will help advance BRIDGE Housing’s affordable housing mission by providing safe, stable and affordable housing in an extremely high-cost real estate market. Located in a vibrant mixed-use corridor, Vista Azul offers one-, two-, and three-bedroom homes at the corner of Aviara Parkway and Laurel Tree Lane that are affordable for working families earning between 30% – 60% of the Area Median Income.
Today’s ribbon-cutting was attended by dozens of people representing every facet of affordable housing development, including government leaders, financing partners, service providers, community members, and more.
“Carlsbad is a high-cost area with very limited affordable housing supply – precisely the kind of community that BRIDGE Housing was created to serve,” said BRIDGE President and CEO Ken Lombard. “We are excited to open our third affordable housing community in Carlsbad, making a transformative difference for 70 families as we continue to enlarge our impact in San Diego County and throughout the West Coast.”
The property encompassing Vista Azul and a larger market-rate apartment community across the street was selected by the City of Carlsbad, through their inclusive housing program, as an ideal site to develop mixed-income housing. Vista Azul is located in an amenity-rich neighborhood near retail, schools, and employment opportunities, including biotech research centers, McClellan-Palomar Airport, Legoland and more.
“Kids who grew up in Carlsbad find it challenging to afford a place of their own here, and local businesses struggle to find employees close by,” said City of Carlsbad Mayor Keith Blackburn. “This project is a great example of the city, the county, nonprofits and developers working together to address the very challenging problem of affordable housing.”
Residents at Vista Azul will have access to on-site parking and amenities including a management office, service areas, community room with kitchen, common laundry rooms and an outdoor courtyard area. Vista Azul also includes solar panels on its roof and some carports and is designed to achieve Green Point Rated Gold certification and meet the City of Carlsbad’s Climate Action Plan (CAP) measures. Resident services will be offered through Leah’s Pantry, a California-based nonprofit focused on community nutrition and food security, and All-Star Academics, which offers on-site after-school and summer enrichment programs.
Vista Azul resident Coral McIntyre is a San Diego native and single mother to a son who is gifted and profoundly dyslexic. After losing their home due to mold, and suffering loss from a fire and flood, she and her son lived in a sprinter van so he could attend summer school in the school district that meets his needs.
“This is so much more than an opportunity to have a home within reach, but rather a bridge to accomplish my dream of both meeting my son’s educational needs as well as finishing my graduate studies,” said Coral McIntyre. “This really is a dream come true for our little family.”
With the opening of Vista Azul, BRIDGE Housing now owns and manages over 500 affordable units in Carlsbad. Villa Loma Apartments offer 344 affordable homes and won an award from the National Association of Housing and Redevelopment Organizations. Poinsettia Station offers 92 affordable apartments and was the first transit-oriented development in the City of Carlsbad.
“Housing is a fundamental pillar of any thriving community, and in San Diego, the need for diverse and affordable housing options has never been more critical,” said Austin Wermers, Principal at Wermers Properties. “The importance of housing extends beyond mere shelter; it encompasses economic stability, social equity, and community well-being.”
Founded in 1983, BRIDGE Housing has four decades of experience providing safe, affordable homes for families in the Bay Area and throughout the West Coast. With a focus on community development and comprehensive support services, BRIDGE’s $3.5 billion portfolio totals more than 13,600 units in California, Washington and Oregon, providing affordable homes for 30,000 residents. More than 10,800 affordable apartments are in the development pipeline. BRIDGE is currently expanding its impact in San Diego County, with 13 communities open or in development providing a total of 1,800 units of affordable housing.
Financing for Vista Azul was provided by the City of Carlsbad, the County of San Diego, Wells Fargo Bank, Freddie Mac, Aviara L.P., the California Tax Credit Allocation Committee, and the California Debt Limit Allocation Committee. The project was designed by KTGY Architects, and the General Contractor was Wermers Multifamily Corporation.
“Wells Fargo is proud to partner with BRIDGE Housing to finance this development, which will provide much needed affordable and sustainable housing to the Carlsbad community,” said Jeff Bennett, executive director in Wells Fargo’s Community Lending and Investment group. “Through our long-standing partnership with BRIDGE, we have financed many affordable housing developments for more than four decades in California and the Pacific Northwest, furthering our commitment to enhancing community development and affordable housing.”
About BRIDGE Housing
BRIDGE Housing is a leading nonprofit developer, owner and manager of high-quality affordable housing on the West Coast, with a mission to strengthen communities and improve lives. Founded in 1983, BRIDGE has participated in the creation of more than 21,000 affordable homes in California, Oregon and Washington, with a total development cost of $5.2 billion. Its current portfolio totals more than 13,600 apartments that are home to 30,000 residents, with 10,800 affordable apartments in the development pipeline. For more information, visit www.bridgehousing.com.