SAN DIEGO--(BUSINESS WIRE)--A new community of 95 affordable apartment homes along San Diego’s popular SR 56 corridor is now fully occupied. The Rancho Del Sol rental complex was built in association with Pardee Homes and developed by Chelsea Investment Corp., a privately held company honored in 2015 as San Diego’s Builder of the Year by the Building Industry Association of San Diego County.
Created for households earning at or below 60 percent of the San Diego area median income, Rancho Del Sol’s family friendly amenities include a pool, jungle gym-style playground, courtyard with picnic area and a community clubhouse with free access to computers and printers. The one-, two-, and three-bedroom rental homes are located on Carmel Valley Road in Pacific Highlands Ranch.
Children living at Rancho Del Sol are able to attend some of San Diego’s most highly regarded schools including Solana Ranch Elementary, Pacific Trails Middle School and a choice of two high schools in the San Dieguito Union High School District: either Torrey Pines High or Canyon Crest Academy.
Founded in 1984 by Jim Schmid, Chelsea Investment Corp. is ranked among the top 50 affordable housing developers and owners in the country. The firm’s local portfolio includes housing for families with special needs, as well as homes for low-income seniors and the homeless.
“San Diego is privileged to have Jim Schmid as an excellent builder of affordable housing who has a rare combination of great compassion and great intellect,” said Rick Gentry, president and chief executive officer of the San Diego Housing Commission. “With his first-class approach, Jim accomplishes quality affordable housing for San Diegans in need.”
In 2015, Chelsea Investment Corp. was recognized for developing San Diego’s Best Affordable Project, the 203-unit Alpha Square, serving homeless and very low income individuals in downtown San Diego.
The firm has also been honored by Affordable Housing Advocates of San Diego, a group of legal professionals dedicated to enforcing housing laws and tenants’ rights, and representing the interests of low income individuals. Chelsea received a Celebration of Justice award for the development of affordable and inclusionary housing throughout San Diego County, including Fairbanks, Mariposa, The Crossings and Windwood Village.