From Hotel to Affordable Housing in SoCal
Affirmed Housing converted a property that it acquired last year.
Affirmed Housing has completed Tizon, a 178-unit affordable senior housing community in San Diego. The property serves low-income seniors over the age of 62 earning between 40 percent and 60 percent of the area median income. The development entailed the conversion of a vacant hotel, with total costs reportedly around $50.8 million.
Affirmed Housing financed the rehabilitation with 44 Project-Based Vouchers from the San Diego Housing Commission and a HUD 221(d)(4) multifamily housing loan, which provides long-term, fixed rate, non-recourse financing for multifamily rehabilitation projects. The HOME Investments Partnerships Grant funds were provided to the City of San Diego by the U.S. Department of Housing and Urban Development.
Tizon encompasses four buildings with 175 studios and three manager units. Common-area amenities include a fitness center, a swimming pool, a jacuzzi, a restaurant, meeting rooms, event center, a covered patio area, a community garden and three laundry facilities. The community’s residents can also access programs for health and wellness, life-long learning, financial literacy, art and creativity, provided and managed by EngAGE and San Ysidro Health.
Tizon is at 11520 W. Bernardo Court, in the Rancho Bernardo neighborhood. The community is near Interstate 15, which provides direct access to downtown San Diego.
A hotel conversion development
After the former Radisson Hotel closed in October 2021, Affirmed Housing acquired it last year from KASHL Corp. for $27.5 million. The renovation included improving existing common spaces, the addition of kitchenettes and upgrades to the bathrooms, so they comply with the American with Disabilities Act.
BASIS Architecture and Consulting served as the main architect, along with HA Builders as the general contractor. Other partners included Kettler Leweck Engineering, Landscape Architecture, Raymond James and Lument.
Affirmed has also recently completed a 55-unit affordable senior housing community in Los Angeles. The fully affordable and age-restricted property caters to formerly unhoused seniors earning up to 50 percent of the area median income.