The Santa Barbara County supervisors have approved an agreement with San Marcos Ranch developers to make 236 Goleta Valley apartments affordable for 55 years, which is a condition of approval for the project that includes more than 700 market-rate units to be built on a nearby parcel.
The county rezoned the San Marcos Growers property to allow housing, and developers plan to build 956 units: 720 market-rate units at 4960 Hollister Ave. and 236 affordable apartments at 125 S. San Marcos Road.
The affordable apartments received zoning approval in September and are under construction. When they’re finished, they’ll have a 55-year rental restrictive covenant so units are affordable to low-income and extremely-low-income households…