Las Villas de Paseo Nuevo
An Affordable Housing Opportunity for the South Oxnard Community
Project Description72 unit low-income rental project in the Cypress neighborhood.
Unit MixThere will be 12 buildings with 6 units in each.
The unit mix in each building will be: 4: 3 Bedrooms2: 2 Bedrooms
Site Information Lot Size (SF) 215,183 SF Lot Size (Acres) 4.93 acres Buildable SF 75,184 SF Proposed Density 14.6 Units/Acre
Ownership Structure
During Development After Completion
Pre-Development CostsReimbursements of costs to date 150,000
Architect (Building and Landscape) 75,000
Engineers and reports (Civil, solar, M&P, Electrical,etc.) 30,000
Land Use Consultants 110,000
Surveyor 20,000
Legal and Accounting 20,000
Accounting 10,000
Soils Investigation 6,000
Appraisal 8,800
Title and Escrow 3,000
Phase 1 Report 3,000
City Fees 30,000
Traffi c Study 4,000
Environment Reports 5,000
Other Consultants (If necessary) 10,000
Relocation (Preliminary) 80,200
Contingency 35,000
600,000
Development Costs
Project Advantages from Development • Proactive positive relocation plan for existing residents • Improves an existing blighted community in South Oxnard • Fills an important community need for affordable housing • Creates local jobs • Green Communities Certification with photovoltaic solar package Project Advantages from Operation • Provides approximately 72 families with new homes • Offers economic incentives for City • Makes both Las Cortes and the Housing Authority more financially independent • Creates important inventory for the Oxnard Housing Authority • Provides positive cash flow • Multifamily Housing Crime Free Program • Provides accelerated repayment of Redevelopment Agency Loan
QUESTIONS