SCOTTS VALLEY -- Residents have three weeks to turn in applications for one of the five affordable housing units that are part of a larger housing project near the transit center, library and other amenities.
Work began last year on the 46-unit "Scotts Valley Town Center Collection," located on 2.4 acres on Blue Bonnet Lane off Bean Creek Road. The three-story units all include four bedrooms and two-car garages, but the low- and moderate-income units will have 2.5 baths compared with 3.5 in the others.
Applications for the affordable units are due Jan. 25, and a lottery will be held Jan. 31. Winners will be announced the same day, and they will be able to move into their townhomes in late spring, said Amanda Fielding, marketing manager for City Ventures, the developer behind the project. More than a dozen families will move into some of the already completed units this month, with the entire project slated for completion in the fall.
Some restrictions apply for the affordable housing units, three of them set aside for the low-income bracket and two for moderate-income households. Anyone who plans to apply for the lottery, for example, cannot have owned residential real estate within the last three years. And income restrictions adopted by the county's Board of Supervisors also apply. Singles with annual incomes of between $53,700 and $73,100 are eligible for the affordable housing program, while the cap for a family of four is between
Originally, the project was supposed to include an equal number of low-income and moderate-income units. But with the housing market still recovering, prices are low enough that there is not enough of a difference in price between moderate-income units and those selling at market value.
"Everybody is having a hard time selling affordable housing in the moderate zone," said Councilman Dene Bustichi, who sits on the city's affordable housing subcommittee.
The project was approved four years ago, and at the time, the land was owned by Santa Cruz developer Bill Brooks. But he was unable to obtain financing and, in June 2011, sold the project to City Ventures, which has built homes in Alhambra, Carlsbad and other locations in Southern California.
Once completed, the development will include a walkway that winds throughout, a common area and some private patios. All units come with solar panels, low-flow faucets and shower heads, electric car charging outlets and other "green" features, according to information provided by City Ventures.
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At a glance
AFFORDABLE HOUSING LOTTERY
WHEN: Applications due Jan. 25; lottery held Jan. 31
WHERE: 237 Blue Bonnet Lane, Scotts Valley
INFORMATION: 438-3100 or email@example.com