OCEANSIDE — In good news for seniors, City Council unanimously approved the development of the Lil Jackson Senior Community housing project on Lake Boulevard and Esplanade Street. The 80-unit, three-story, affordable rental project will house low-income seniors 52 and older. Estimated rental rates are $604 to $690 a month.
The Lil Jackson project comes at a total cost of about $17 million, or $216,000 per unit, William Marquis, senior property agent, said.
“$218,000 a unit is pretty close to what the market rate is,” Councilman Jerry Kern said, citing his own estimate.
The Lil Jackson project chalks up another good faith effort by the city to fulfill its affordable housing need and reaps multiple benefits. In 2003, while the city negotiated the sale of property at 602 Civic Center Drive for the relocation of Fire Station No. 1 and expansion of the Oceanside Museum of Art, Southern California Presbyterian Homes proposed developing the Lake Boulevard site for low-income seniors and entered into an option agreement with the city to buy
the property. By January
2006, Southern California Presbyterian Homes had secured loans and accessed suitability for development. “It’s a very good partnership,” Councilwoman Esther Sanchez said. “It came at a good time and allowed us an opportunity to negotiate land for Fire Station No. 1 and museum expansion.”
The Lil Jackson project originally planned to include 125 units, but that number was reduced to 80 units because of its location on the Buena Vista Creek flood plain. Revised plans call for 2.2 acres to be developed and the 2.5 acres sitting in the flood plain to be retained by the city for habitat conservation.