San Diego State University (SDSU) has chosen affordable housing developer Chelsea Investment Corporation to construct the first income-restricted multifamily community at the University’s Mission Valley Campus. The firm plans to build a 182-unit complex with units reserved for families making 30% to 60% of area median income (AMI). Located within walking distance of Snapdragon Stadium, this seven-story building will feature one-, two-, three- and four-bedroom units, as well as a two level parking garage. Amenities include a community room, computer lab and child care facility operated by Episcopal Community Services.
The contract between SDSU and Chelsea allows for construction of an additional 109 subsidized residential units in phase two if phase one is successful. Cheri Hoffman, president at Chelsea Investment Corporation said they were honored to be selected for such an important project that would benefit the local community long term. Groundbreaking on this development is expected in 2025.
