About This Montecito Village Family Community
Montecito Village is a family-friendly community that offers affordable housing options ranging from one to four-bedroom apartments. The property caters to low to very low-income households and was financed through a tax-exempt bond provided by Prudential Mortgage Capital. Credit enhancement was secured through Freddie Mac and Union Bank acquired the Low Income Housing Tax Credits. The project's finance structure was made possible thanks to a favorable ground lease extension provided by San Diego County. The renovations at Montecito Village include various updates to the apartments themselves, such as new roofs, paint, energy-efficient windows, and patio doors, fencing, HVAC systems, signage, and improvements to drainage, landscaping, paving, and site accessibility. Kitchens and bathrooms received new cabinets, countertops, appliances, plumbing fixtures, flooring, and energy-efficient lighting. Additionally, the community now features a brand-new community room, computer learning center, picnic area, and leasing office to enhance the lives of its residents. Section 8 units are also available for qualified households, but most apartments these days have waiting lists. If you're interested in living at Montecito Village, we've provided the contact information so you can reach out to them directly and see if you qualify for their apartments. It's important to note that the property accepts HUD subsidies, and if you qualify for low-income housing and they have available apartments, your rent will be based on 30% of your Adjusted Gross Income. Give them a call for more details about the one, two, three, and four-bedroom options available at Montecito Village.
