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El Paseo Development Receives Two Honors

March 11, 2001|Diane Wedner

El Paseo, a new development of affordable, single-family homes in Oxnard, was selected recently by the Department of Housing and Urban Development for its Platinum Award, the nation's highest affordable-housing honor.

The development, which sits on 20 acres and features 190 homes, also was recognized by the National Assn. of Home Builders as the Detached Community of the Year. The homes were designed by WFA Architecture and Planning of Newport Beach and are located in Oxnard's Northeast Community Specific Plan.

The city of Oxnard contributed $1 million toward low-interest mortgages. Bank of America provided about half of the mortgages to El Paseo residents, and helped secure funding from the Federal Home Loan Bank's affordable housing program.

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