Additional affordable housing units for Lake Forest

  • 2015-10-04
The city of Lake Forest, along with the nonprofit Families Forward, was recently able to celebrate closing escrow on four apartments that are to be used for affordable housing.

Located at 23201 Saguaro Street, the property closed on September 18 contains four units. Three two-bedroom units will be leased to families with income levels that fall 80% below $80,950, which is the median annual income for a five-person household in the county. The remaining unit is a three-bedroom one and will be reserved for a family with income at less than 50% of the median annual for the county.

The city uses Brochures and Flyers distributed via libraries and other public places to inform the public of the affordable housing options available to them.

Before the units can be rented they will undergo a complete renovation. Families Forward board member Tracie McCloskey explains that the renovations will include new drywall, flooring, and lighting. Additionally new bathrooms, interior and exterior painting, new stone counter tops, patios, and landscaping are included in the renovation plans.

The property was acquired in 2011 by the Lake Forest Redevelopment Agency for $925,750 and transferred the following year to the Lake Forest Housing Authority after the Redevelopment Agency dissolved. The city then sold the property for $200,000 to its chosen nonprofit partner, Families Forward, which was also provided with a $400,000 grant for the property’s renovation.
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