More than 160 units of affordable senior housing got a makeover over the past year, and local officials from the public and private sector gathered Friday afternoon to celebrate the completion of that project.
The Housing Authority of the City of Santa Barbara has been working on the $39.3 million project to rehabilitate the former SHIFCO senior housing development at 418 Santa Fe Place off Cliff Drive on the Mesa.
That complex of 107 units has been renamed Villa Santa Fe, and the project also included 60 units at Villa La Cumbre, which has also been renamed Villa Santa Fe II.
The move not only gave the complexes much-needed upgrades but also made changes to the ownership structure under low income housing tax credit provisions.
The Housing Authority kept the title to the land but sold the property to investors, who will get a tax credit for investing in affordable housing, according to Rob Pearson, executive director and CEO of the Housing Authority.
Union Bank stepped up to be the investors and buy the tax credits in the development, he said.
Skip Szymanski, the Housing Authority's deputy executive director, gave Noozhawk a tour of two of the newly rehabbed units, which are about 500 square feet each.
The units are income restricted and can house one or two people in each, and each unit has been newly painted and carpeted, new energy efficient appliances have been installed, and there are new windows, cabinets and other upgrades.
Most of the units were occupied at the time the work began, so tenants were moved out for about four weeks while their apartments were being upgraded.
Mayor Helene Schneider spoke at Friday's ribbon cutting, along with Union Bank Senior Vice President Johanna Gullick, who said the bank has always been a big advocate of supporting affordable housing tax credits and lending.
Pearson said that because of the work put in, "we now have senior units that should last us another 50 years."