South Lake Tahoe holds a grand opening Thursday for The Aspens at South Lake, a 48-unit affordable housing project in the city.
The nearly $17 million building project got its occupancy certificate in January. Its apartment buildings are tucked among trees near the corner of Pioneer Trail and Ski Run Boulevard.
“Of the 48 units, as of this weekend 41 will be completely leased up. That’s a pretty good response within six weeks,” said Shellan Rodriguez, the housing and sustainability programs manager for Pacific West Communities.
The Eagle, Idaho-based development firm has built and owns more than 100 affordable housing properties in California, Idaho, Montana and Wyoming. Most are in California.
The Aspens offers one-, two- and three-bedroom apartments for people earning up to 50 percent of the area median income and rents are based on a person’s income, Rodriguez said.
The 5.5-acre property includes open space, picnic spots and a playground as well as community, computer and laundry rooms. The site could accommodate eight more housing units but there are no plans to build them at this time.
The apartment buildings exceed statewide energy efficiency codes by more than 17 percent.
“We make efficient buildings from an energy perspective and we pick locations that are centralized, close to grocery stores and other services. So between site location, efficient, tight building envelopes, and high-quality materials, appliances and HVAC systems, we get there. We did that here and we feel like it pays off,” Rodriguez said.
The project was financed in part through a mix of loans and low-income tax credits from the state of California, loan funding from South Lake Tahoe and El Dorado County, private lending and a long-term fee deferral from South Tahoe Public Utility District.
Thursday’s open house is meant to help potential renters learn more about the new affordable housing property and also celebrate the many partnerships that made the project a reality, including relationships with the city, county and Tahoe Regional Planning Agency, Rodriguez said.
“It’s just an opportunity to celebrate a great new asset for the community,” Rodriguez said.