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VENTURA COUNTY ROUNDUP | OXNARD

Ground Broken on Affordable Housing

July 07, 1999|BRYNN MANDEL

City officials Tuesday celebrated groundbreaking of a 190-unit affordable-housing project known as El Paseo.

The project is the result of a partnership among the city, developers, industry and the community. The city donated $6 million in land and $1 million for closing costs.

The two- to four-bedroom homes will range from $89,950 to $149,950, with monthly payments starting at about $700.

"This project will allow home ownership for families that otherwise couldn't afford the American dream," Councilman John Zaragoza said.

Construction on the project, off Camino del Sol between Rose and Rice avenues, is set to begin immediately. Working families making between $2,000 and $4,500 a month will be eligible to buy homes there.

Although models won't be completed until fall, demand is already high, said project manager John C. O'Brien. So far, informational assemblies have drawn between 200 and 300 people each, he said.

Another official on the project, Dan Carlsson, said the development is unusual in that the homes are being built among other new developments selling for much higher costs.

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