A $51.3-million apartment complex with income-restricted units from the Housing Authority of the City of Santa Barbara has officially opened, and the organization expects it to be fully leased starting Nov. 1.

Housing Authority staff, elected officials and community members gathered at the 200 North La Cumbre Road complex, named Bella Vista, on Monday to celebrate.

The 48-unit complex has 15 of the 627-square-foot one-bedroom units, 21 of the 800-square-foot two-bedroom units, and 12 of the 1,050-square-foot three-bedroom units.

One of the two-bedroom units will house an on-site manager.

All units are subsidized with Section 8 vouchers. Tenants will pay 30% of their income for rent.

The complex sits above a podium parking garage, which has 58 parking spaces for residents and 10 for visitors. That includes a handful of electric vehicle charging stations.

The complex also has a community room — named after Sheila Lodge, a former city of Santa Barbara mayor who passed away earlier this year — on-site laundry, and courtyard outdoor spaces.

The 1.34-acre parcel was purchased in 2019 by the Housing Authority with the intent to house low- and very-low-income families. The site used to have office and medical facilities.

The housing project was funded by permanent loans, tax credit investor equity, and a loan from the city of Santa Barbara, a Housing Authority seller carryback note, and a Housing Authority Gap Note, as well as deferred fees and waivers.

Costs ultimately broke down to $5.9 million for the land, $38.1 million for construction, $2.5 million for developer fees and $4.8 million in soft costs, which included construction interest and lender fees, among others, the Housing Authority said.

The complex was designed by The Cearnal Collective, and McGillivray Construction Inc. was the contractor.

Crews broke ground in early 2025.

City Housing Authority Executive Director Rob Fredericks told Noozhawk it took a long time to build the complex because units are larger.

This project was also particularly expensive because of the podium parking garage, he added.

He said the units are built to last, with solid surface countertops and steel roofs. The latter will “never need to be replaced,” he said.

He added that all tenants are expected to sign leases this week.

Those who are set to move in were among a thousand households already on the Housing Authority’s waiting list.

“Families who live here can have a safe, beautiful home without rent consuming nearly all of their income,” Fredericks told the crowd.

“I’ve described myself in the past as an abolitionist of poverty. I believe affordable housing is one of the most powerful ways we can uplift people out of poverty and build stability.”

To Noozhawk, he said: “Every time we can provide somebody with a home to lay their head at night and they can say to themselves, ‘This is where I live, and I’m proud where I live,’ it overflows my heart with joy.”

He said families toured some of the units last week, and “seeing the happy faces on them and their kids — that just does it. That’s what keeps us coming back every day.”

Those who spoke at the grand opening on Monday congratulated Fredericks and the work his team did.

“Forty-eight beautiful, quality, affordable units… Look at this place. It’s beautiful,” said Congressman Salud Carbajal, D-Santa Barbara.

“What a great addition to the community,” Santa Barbara Mayor Randy Rowse said.

Housing Authority Chair Lisa Carlos also presented a painting from Lodge, which Lodge made before she passed away. Carlos said it will hang in the community room.