SAN DIEGO — More affordable housing is coming to San Ysidro. A local organization is getting the green light to build more than 100 rent-to-own units.
Casa Familiar was awarded a $33 million grant for the affordable housing project. They plan to build more than 100 units at two sites in San Ysidro.
The organization is looking to build units that residents one day will get the chance to own.
"They will have the ability to buy that home and we will be supporting them in doing so," said Lisa Cuestas, CEO of Casa Familiar.
Cuestas says after 15 years units can be sold to residents for the remaining debt. Residents will not own the land as the project is part of a Community Land Trust.
"That's why you're able to keep those home affordable," she said.
The units are estimated to sell between $341,000 and $501,000 at the 15-year mark. Cuestas is hopeful it will give families the opportunity to buy a home and generate wealth that otherwise wouldn't be able to do so.
Units will be open to low-and moderate-income families making somewhere between $45,000 and $75,000 for a household of four.
"Well they need more housing," said Alex, a San Ysidro resident.
He lives near the project site and worries how the construction of new homes might impact people already living there,
"They're making a lot of apartments without parking for the people here and as you can see around us there's no room for the people that live here as well," he said.
MTS plans to build new bus shelters in the area and expand weekend trolley services. Casa Familiar hopes to break ground next summer.
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