National CORE and San Diego Community Housing Corporation Break Ground on 61-Unit Brookview Senior Villas in Fallbrook
National CORE and the San Diego Community Housing Corporation (SDCHC) broke ground July 30 on Brookview Senior Villas, a 61-apartment affordable housing community for extremely low-income seniors in Fallbrook, California. U.S. Bank provided both tax equity and construction financing for the project, which is structured as a public-private partnership with the County of San Diego.
Project Details and Unit Mix
Brookview Senior Villas will rise as a three-story community serving residents ages 62 and older. The development includes 56 one-bedroom apartments, four two-bedroom apartments, and one manager's unit, for a total of 61 homes. The building will feature an elevator and accessible walking paths lined with shade trees, with a stated emphasis on accessibility and neighborhood walkability.
Thirty apartments are reserved for households earning at or below 20% and 30% of San Diego's area median income. An additional 12 units are set aside for individuals diagnosed with mental illness who have experienced homelessness and are referred through the County of San Diego's No Place Like Home program.
Financing Structure
U.S. Bancorp Impact Finance, the community development and infrastructure finance division of U.S. Bank, supplied tax equity — indicating a Low-Income Housing Tax Credit structure — as well as construction financing. The project is described as a public-private partnership, with the County of San Diego serving as a key governmental participant through its No Place Like Home program referrals and housing and community development services. Total development cost, cost per unit, permanent loan terms, and state subsidy amounts were not detailed in materials released at the groundbreaking.
"With Brookview Senior Villas, National CORE is addressing local housing needs while delivering long-term value for residents," said Chuck Sinkey, affordable housing senior vice president at U.S. Bancorp Impact Finance. "We're pleased to support this new community with tax equity and construction financing that helps bring quality, affordable homes to seniors in Fallbrook, California."
Market Context: North County Affordability Pressures
Fallbrook is an unincorporated community in northern San Diego County, a submarket subject to the same region-wide affordability pressures as coastal communities. Two-bedroom apartment rentals in San Diego's north county region average approximately $2,230 per month, according to California Housing Partnership data cited at the groundbreaking. Median home prices across San Diego County have reached $1 million, placing market-rate housing well beyond the reach of seniors living on fixed incomes at 20% to 30% of area median income.
"Affordability is one of the biggest issues facing our nation — whether it's food, fuel, healthcare or housing," said SDCHC President Ted Miyahara. "Brookview Senior Villas is a promise to San Diego that help is on the way and stability is within your grasp."
National CORE Vice President John Seymour noted that while homelessness has been trending downward in the region, significant gaps remain in affordable housing for seniors. "Working with SDCHC and the County of San Diego is always a pleasure," Seymour said. "Homelessness might be trending downward, but we still have a long way to go in making San Diego more affordable for our seniors."
Public and Community Support
Elected officials and community partners joined National CORE and SDCHC at the July 30 ceremony. San Diego County District 5 Supervisor Jim Desmond highlighted the project's role in keeping longtime residents in place.
"Our seniors spent their lives building North County. They've earned the right to grow older in the community they love, not get priced out of it," Desmond said. "That's what it looks like when we stop talking about the housing crisis and start solving it."
David Estrella, San Diego County director of housing and community development services, framed the development within the County's broader homelessness and senior housing strategy. "Brookview Villas will strengthen the community by providing safe, high-quality affordable homes that uplift the neighborhood and provide much needed stability that allows our older adults to age in place," Estrella said. "This development reflects the County's commitment to partnering with community-centered developers like SDCHC and National CORE to expand senior housing and advance positive solutions toward ending homelessness."
SDCHC Vice President John Wurster added that the project continues a pattern of collaboration between the two nonprofit developers and the County. "Brookview Senior Villas will give respite to those who are struggling in San Diego's north county," Wurster said. "It's inspiring to once again work with the County of San Diego and National CORE to continue making San Diego more affordable."
Developer Profiles
National CORE, formally known as National Community Renaissance, is a nonprofit affordable housing developer and operator with a substantial Southern California footprint. The organization is an active user of Low-Income Housing Tax Credits, project-based rental assistance, and layered soft financing to deliver deeply affordable housing. SDCHC is a San Diego-based nonprofit development partner that regularly collaborates with County agencies and institutional capital providers on supportive and affordable housing projects.
Sources
National CORE — National CORE, SDCHC Hold Groundbreaking in Fallbrook