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Cabrillo Economic Development Corporation (CEDC) is thrilled to announce that earlier this month we closed the construction financing for Village Senior Apartments. This significant milestone marks a pivotal moment for Village Senior Apartments, underscoring our unwavering commitment to providing affordable housing solutions for seniors within our community. Village Senior Apartments, located in the City of Buellton will feature 50-units of affordable housing. Dedicated to serving seniors, senior veterans, and formerly homeless senior veterans, Village Senior Apartments will consist for 44 one-bedroom and 6 two-bedroom units. With financing in place, we are poised to embark on the next phase of this project, starting construction.

We extend our heartfelt gratitude to all who have contributed to this achievement, from our partners and stakeholders to the dedicated members of the CEDC team. Together, we are shaping a brighter future for seniors, one project at a time. Stay tuned for more updates as we continue to progress towards the realization of Village Senior Apartments. Construction will start later this month.

A quote from Margarita H. de Escontrias (CEO of CEDC): “This is the culmination of many years of planning. We are excited to share this important milestone with the Buellton Community. This building will be dedicated to the elders and veterans in our community who deserve a decent plan to live and thrive. I want to recognize the members of the Senior Center, elected and appointed officials here in Buellton for their unwavering support of Cabrillo. We cannot wait until our Grand Opening!”

Thank you to our partners: California Tax Credit Allocation Committee, California Department of Housing & Community Development, Banner Bank, National Equity Fund, County of Santa Barbara, City of Buellton, Wells Fargo, Rural Community Assistance Corporation, Goldfarb & Lipman LLP and Community Economics Inc.