Yale Apartments

About the project

Since 1981, the Cabrillo Economic Development Corporation (Cabrillo EDC) has been guided by a simple belief: a home is much more than just a structure or a place to live. The largest developer of affordable housing in Ventura County, Cabrillo EDC helps historically excluded populations achieve homeownership and build resilient communities, with a special focus on low-income and farmworker families, those with disabilities, and the elderly.

Cabrillo EDC is headquartered in Ventura, CA, with affordable housing developments spanning Ventura and Santa Barbara counties and adjacent areas in Los Angeles County.

LISC provided Cabrillo EDC with a mini-permanent loan of $1,053,685 to refinance a current mortgage on their Yale Apartments property, an existing 26-unit affordable rental apartment complex in Santa Paula, CA. Rents for all units are set at 50%-60% of AMI. Highlights of the 23,700 square foot development include well-landscaped grounds with a community laundry building and children’s playground.