Collaborative Initiative to Preserve Affordable Housing in Chula Vista
Chair Nora Vargas, Ethos Real Estate, and The Vistria Group have partnered to preserve 151 affordable housing units in Chula Vista.
In a vital effort to combat the housing crisis in San Diego County, Chair Nora Vargas of the Board of Supervisors announced a partnership with Ethos Real Estate and The Vistria Group LP to preserve 151 affordable housing units at Vista Lane Apartments in Chula Vista. This initiative ensures safe and affordable housing for current residents for at least 55 years, targeting households earning 80% or less of the area’s median income.
Ethos Real Estate is leading this initiative, showcasing its dedication to preserving affordable housing through sustainable and equitable solutions. By acquiring, renovating, and maintaining the Vista Lane Apartments, Ethos aims to enhance living conditions for residents.
Jennifer Keith, Co-Founder and Managing Partner of Ethos, expressed gratitude for the collaboration, stating, “We look forward to working together to continue expanding housing affordability in the region.”
The partnership with The Vistria Group strengthens the effort, as they are committed to maintaining affordable housing. Yusef Freeman, Real Estate Partner at The Vistria Group, noted, “We are proud to partner with President Vargas and Ethos to preserve access to affordable housing for families in Chula Vista for years to come.” The agreement also includes plans to improve resident services and enhance the sustainability of the housing assets.
This initiative marks a significant step in addressing housing affordability in San Diego County and sets a strong precedent for future collaborations to ensure accessible housing for generations to come.