Salinas Pointe is a 220-unit apartment community located in Salinas, CA. This was one of the most challenging properties KDF has acquired in terms of the physical renovation needs. It was in very poor condition and had been cited by the City for a collapsed staircase and crumbling decks. Further, the property had a problem with overcrowding in the units. When a property is left in such disrepair, there is often a tacit agreement to ignore overcrowding as long as the tenants don’t complain about repair issues. A property like this can spiral out of control.
Using bond financing, tax credits, and a $1.8 million loan from the Salinas Redevelopment Agency, KDF acquired the property and began a year-long renovation. Code violations were corrected and the units were renovated with new operating systems and interior cosmetics. An adherence to local and state occupancy standards was implemented. The final result was a rehabbed property that was restored to a condition that the residents and city can be proud of.
216-unit affordable apartment community located in Salinas, California