In a unanimous decision on Tuesday, May 6, the Santa Barbara County Board of Supervisors has approved a significant financial push for a housing project aimed at local educators.
The board sanctioned a $1.1 million loan to cover “development impact fees” for a new affordable housing initiative spearheaded by the Santa Barbara Unified School District in partnership with Red Tail Multifamily Land Development.
This venture will see the creation of 106 affordable housing units on the so-called Tatum property, located near San Marcos Growers in the Eastern Goleta Valley. Having sold the property to Red Tail for $17 million, the district is set to close escrow this month.
The development, located near San Simeon Drive and San Marcos Road, spans across four acres and will include 51 one-bedroom homes, 26 two-bedrooms, and 29 three-bedrooms. They will be adjacent to 385 “market rate” units and 26 “moderate rate” units developed by Red Tail for a total of 517 units…