Oceanside has offered loans to three developers planning to build all-affordable housing projects in the city.
The city staff recommended up to $4.25 million for Coast Villas, a 56-unit, all-senior project proposed by National Core and the San Diego Community Housing Corporation for a used-car lot in the 1100 block of South Coast Highway, and up to $6 million for Mirka Investments to build a 111-apartment project for individuals and families in the 2100 block of South El Camino Real.
Proposals for the money are received almost weekly, Hines said, and so staffers recommended funding two projects and leaving money in the fund for another possibility later. However, the city’s housing commission recommended using more of the money for a third project to be chosen by the City Council.
A few Olive Drive residents opposed it. They said the site is geologically unstable, more environmental studies are needed, and the development would bring too much traffic to their short street, which is the only access in and out, essentially turning it into a driveway.“This development will have a resource center built into it, led by the local nonprofit Las Palmas,” Palmer said. “It will meet the needs of our future college students, it’s right down the road from the College.