The 152 studio and one-bedroom units for low-income seniors built in 1972 will undergo a full interior and exterior renovation estimated at $12.5 million. The property was formerly owned and operated by Westminster Manor of San Diego, Inc., who has partnered with Chelsea to refinance and redevelop the building so that it will remain as affordable senior housing for another 55 years.

Post-completion, the Chelsea/Westminster Manor of San Diego, Inc. partnership will work with Serving Seniors to manage services onsite as well as to encourage and inform residents to take full advantage of Serving Seniors' West Wellness Center, located only three blocks away.

In a separate transaction, a Chelsea affiliate purchased 3.12 acres at 470 Wall Road in the City of Imperial from C&G Farms, Inc., for $650,000. The buyers and sellers represented themselves.

An existing structure on the property will be demolished to make way for Las Palmeras Apartments, a complex of 56 multifamily homes designed for farm labor households under a program sponsored by the US Department of Agriculture (USDA). Estimated value of the completed project is $13.6 million.

The complex will feature 12 one-bedroom, 24 two-bedroom, and 20 three-bedroom units. Las Palmeras will be built to LEED Platinum level with a solar panel system designed to offset 90% of the energy load for the units, community room, and laundry room.

The third property is a 2.86-acre site at 1070 Meadows Drive in Calexico that will be home to the 48-unit Villa Primavera Apartments. An affiliate of Chelsea, with Southern California Housing Collaborative as the managing general partner, represented itself in the $810,000 purchase.

Designed for large families, the project also includes 17 units designated for households with at least one developmentally disabled member. Upon completion, the project is estimated to be valued at $13.3 million.

Designed by Hedenkamp Architecture and Planning to meet LEED Gold standards, Villa Primavera will consist of five two-story garden-style buildings and a community building with 48 carports and 53 uncovered parking spaces.

Financing sources include the City of Calexico with CDBG and HOME funds, City Real Estate Advisors as tax credit investor, Multifamily Housing Program through the California Department of Housing and Community Development, and Rabobank, with Chelsea deferring part of its fees.

Since 1992, Chelsea has developed 7,681 units of affordable housing at a cost in excess of $1.4 billion. The firm's development portfolio includes urban infill, mixed-use, suburban inclusionary, acquisition rehab and rural developments. Approximately 20% of the units developed by Chelsea serve specialized populations, including seniors, farm workers, homeless households, and individuals with physical and developmental disabilities.