Rentals
Most of CHISPA’s rental developments are family oriented and include open areas and playgrounds. Many developments include resident centers providing educational, social and recreational opportunities. Some resident centers also include computer labs with internet access.
The rental developments provide affordable housing for working individuals, families, and seniors who do not have the financial resources for home ownership or the high cost of market rate rental housing. Each year, some families living in the rental developments move on to purchase homes in the community, including families who participate in CHISPA’s self-help and moderate-income housing programs.
CHISPA has also developed and operates three senior rental housing complexes in Salinas, Marina and Monterey. These senior rental projects provide affordable rental housing for low and very-low income seniors. CHISPA is currently developing another 124-unit affordable senior rental complex in Salinas that will be completed in March 2008.
Most of CHISPA’s rental developments undergo the same design review and permit process as market-rate developments. The rental developments are designed to fit the character of the neighborhood, blending in with adjacent single family homes. With quality construction and professional property management, these affordable rental complexes fit in with the other homes in the neighborhood.
Rent levels are generally based on area median income as prescribed annually by the U.S. Department of Housing and Urban Development (HUD) and other regulatory qualification criteria from the financing sources.
Most of CHISPA’s rental developments accept Section 8 vouchers.