U.S. cities lack land for new development but have many derelict or defunct parcels in need of revitalization. There are an estimated 70,000 strip mall centers in the country, all with tremendous potential for affordable and workforce housing.
SANTA ANA, CA - A grand opening was just held for La Placita Cinco, a 51-unit affordable housing community that includes residential and retail in Santa Ana, CA. The project includes $6 million in funding from the City of Santa Ana and will provide much needed affordable housing to Orange County.
Located at 2239 West 5th Street, La Placita Cinco includes 20 two-bedroom units, 29 three-bedroom units, and 2 four-bedroom units. Available units and monthly rent levels range from $881 to $2,154..