Low Income Residents On South Coast Can Get Shot At Buying New Condos
Buying a home is little more than a dream for low income residents on the South Coast.
But, some lucky families are going to get the chance to make that dream come true. A new condominium complex nearing completion in the City of Ventura includes some affordable housing units. 12 of the 91 single family home at “The Enclave” complex being built on North Bank Drive have been designated as affordable housing.
The designated units will be sold to qualified homebuyers whose income doesn’t exceed 80% of the area’s median income, and there will be a 45 year resale restriction. For instance, for two people annual income can’t top $59,000, and the applicant must have good credit, and be able to post a 3% down payment.
In January, there will be orientations for prospective homebuyers who want to apply for a chance at the low cost condos.
The Ventura County Community Development Corporation, the City of Ventura, and the developer, Watt Communities at Northbank have partnered for the affordable housing project. The meetings will take place at 6 p.m. on January 17th and 19th at Orchard Community Church in Ventura.