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Stockton’s oldest multi-family housing development, Sierra Vista Homes, will soon undergo redevelopment.
The Board of Commissioners of the Housing Authority of the County of San Joaquin and the Central California Housing Corporation began the process in mid-June.
Redevelopment of the community is being made possible after HACSJ received $24.3 million in 9 percent low-income housing tax credits, which are part of the financing structure for the first phase of the project. Some 394 families live in Sierra Vista Homes, located south of Martin Luther King Jr. Boulevard in South Stockton.
“This $34 million project is the first of a multi-phase redevelopment of Sierra Vista Homes that will protect over $1 million of annual rental subsidy that provides critical rental assistance to what would otherwise be severely rent-burdened families,” said Housing Authority Executive Director Peter W. Ragsdale.
According to a statement released by HACSJ, the first phase of 115 one- to four-bedroom modern, energy-efficient units (including solar) will replace 63 units, and will include demolition of an additional 27 barrack-style units. Previously, 36 units in 14 buildings were demolished in 2015.