USA Properties Fund has started construction on a pair of apartment communities in Simi Valley totaling 311 units; a combination of market rate and affordable senior units.

The adjacent complexes, which have an overall price tag of $114 million, will provide mixed-income, multigenerational housing on a roughly 13-acre parcel called the Landing at Arroyo – a market-rate apartment community with amenities – and Vintage at Sycamore – an affordable senior community open to residents 62 years old and older.

USA Properties partnered with Century Housing, East West Bank and Gables Residential on funding. The Area Housing Authority of the county of Ventura contributed a $3.5 million subsidy for Vintage at Sycamore, which will total 99 senior units.


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