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Oak Park 3 is the third phase of the affordable housing development known as Oak Park Community Apartments located in the City of Paso Robles consisting of 76 units including a manager’s unit completed in 2019. The apartment homes are comprised of one, two, three, and four-bedroom units on approximately 5 acres. The project will also include an approximate 3,290 square foot resident center in addition to recreational open space with a network of walkways connecting the site along with barbeque/picnic areas and a tot lot for the residents. The resident center is proposed to include a fully furnished community/meeting room with television and video capabilities, a kitchen, restroom facilities, and manager office space.
The target population primarily consists of residents from the City of Paso Robles and north San Luis Obispo County who are income qualified. One-hundred percent of the units will be rent restricted to individuals and families with incomes ranging from 30% to 60% of the County area median income.
Oak Park 3 is a public/private financed project whose primary sources of funds come from R4 Capital as the investor/limited partner through the Low-Income Housing Tax Credits program. Mechanics Bank was the construction lender, and Jones, Lang, LaSalle LLC is the permanent lender. Additionally, the Project received deferred loans from Paso Robles Housing Authority, City of Paso Robles, County HOME funds, San Luis Obispo Housing Trust Fund and additionally the project received Project-Based and VASH Vouchers from the Housing Authority of San Luis Obispo.
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901 30TH STREET, PASO ROBLES, CA 93446