The developer intends to build 191 luxury apartments and 27 “affordable” apartments. This is 74 more apartments than Carlsbad building codes allow for this site, but a loophole created by the California Density Bonus Law allows the developer to exceed the limit by 50%.

Some will simply close. Others will try to remain in the village but are having difficulty finding affordable retail space.

The developer is Tooley Interests, based in Santa Monica. They have built similar projects in the Los Angeles area. This is their first project in San Diego County.

The cost of affordable housing is based on Area Median Income (AMI), the income category and family size. In our area, The AMI is currently $119,500 per year.

This project includes 27 units for very low income families. Very low income for a family of 4 is $75,750 per year. The rent for these “affordable” units is restricted to 30% of income, or about $1,900 per month.

source: https://www.sandiegocounty.gov/sdhcd/rental-assistance/income-limits-ami/

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