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Villa Santa Fe Apartments I

Outside view of a unit from its front lawn
Outside view of a stone fountain and benches surrounded by a hedge
Close-up of a purple flower bush
Outside shot of a bench, trees, and many purple flower bushes
Outdoor chairs and a table
Outdoor tables and chairs
Inside of a common room with couches, tables, and chairs
Outside view of a stone fountain and a unit in the background with two people talking in its balcony
Outside view of a few units
Outside view of a bench and a unit behind it
Outside view of a unit from its front lawn
Outside view of the screen door of a unit
Inside of an apartment showing the window that shows the balcony
Inside of an apartment, showing the living room
Villa Santa Fe apartment bedroom and mirror closets
Outside view of the balconies of multiple units
Outside view of the balconies of multiple units
Outside view of a stone fountain and benches surrounded by a hedge
Close-up of a purple flower bush
Outside shot of a bench, trees, and many purple flower bushes
Outdoor chairs and a table
Outdoor tables and chairs
Inside of a common room with couches, tables, and chairs
Outside view of a stone fountain and a unit in the background with two people talking in its balcony
Outside view of a few units
Outside view of a bench and a unit behind it
Outside view of a unit from its front lawn
Outside view of the screen door of a unit
Inside of an apartment showing the window that shows the balcony
Inside of an apartment, showing the living room
Villa Santa Fe apartment bedroom and mirror closets
Outside view of the balconies of multiple units

418 Santa Fe Place
Santa Barbara, CA

Type of DevelopmentSenior; Low Income Housing Tax Credit Program
General PartnersGarden Court, Inc. & 2nd Story Associates
Developer/Property ManagementHousing Authority of the City of Santa Barbara
Development Profile106 one-bedrooms (550 sq. ft. per unit)
Owner of Building/ImprovementsVilla Santa Fe Apartments, LP

Villa Santa Fe Apartments I was part of a multi-million dollar rehabilitation and financial repositioning of two senior apartment complexes owned by the Housing Authority – Villa Santa Fe Apartments I (formerly known as SHIFCO) and Villa Santa Fe Apartments II (formerly known as Villa La Cumbre). Transforming these two properties involved changing the ownership structure and conducting substantial physical rehabilitation, which was completed in 2014.

Through extensive collaboration, Villa Santa Fe I gave 106 units a new 50+ year life in service to low-income seniors in Santa Barbara.

The Villa Santa Fe Development Team included:

  • Housing Authority of the City of Santa Barbara (Landowner and Developer)
  • 2nd Story Associates (Managing General Partner and Housing Authority non-profit affiliate)
  • Garden Court, Inc. (Co-General Partner and Housing Authority non-profit affiliate)
  • Union Bank (Equity Investor-Low Income Housing Tax Credit Investor)
  • DH&G LLC (Developer’s Consultant)
  • Kantor Taylor Nelson Evatt & Decina PC (Tax Credit & FHA Loan Counsel)
  • Bellwether Enterprises (Lender)
  • Price, Postel & Parma (HA General Counsel)
  • Quint & Thimmig LLP (Bond Counsel)
  • Citi (Bond Purchaser)
  • Fidelity National Title Company
  • Department of Housing and Urban Development
  • MoveGreen

Amenities

  • On-site management
  • Community room & kitchen
  • Wifi
  • Laundry rooms
  • Ocean views
  • Gardens

*Development is 100% subsidized with Section 8 subsidy; all residents pay 30% of income for rent

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