Empower individuals & families ● Build community resilience ● Promote housing opportunities ● Enhance quality of life
HOUSING &
HOMELESS SERVICES
Item 8.2
Sol Vista Bond Issuance (Housing Authority)
HOUSING &
HOMELESS
SERVICES
Project Overview
• 96 units
• Part of larger 599-unit
complex
• Tenants will have access to
shared amenities (pool,
lounges, dog park, etc.)
• $14 million bond issuance
• ~$44 million project cost
Project Location
HOUSING &
HOMELESS
SERVICES
Project Team
Role Name
Project Sponsor Baldwin & Sons, Inc.
General Contractor An affiliate of Baldwin & Sons, Inc.
Architect AO Architects (www.aoarchitects.com)
Affordable Housing Consultant Trestle Build (Rise Urban Consulting) Property Manager CONAM
Funding Lender Citibank
Role Name
Governmental Lender Chula Vista Housing Authority
Financial Counsel Peter Ross (Ross Financial)
Bond Counsel Bradley Neal (Stradling Yocca Carlson &
Rauth)
HOUSING &
HOMELESS
SERVICES
Milestones & Timeline
Milestone Responsible Party Target Date
HHAC Consideration of Inducement HHAC July 16, 2025
Bond Inducement Housing Authority August 5, 2025
CDLAC Application Baldwin & Sons September 9, 2025
Award Notification CDLAC December 2025
Building Permit Issued City March 23, 2026
HHAC Recommendation of Bond
Issuance
HHAC March 25, 2026
TEFRA Hearing & Approval City April 21, 2026
Bond Final Approval Housing Authority April 21, 2026
Loan Closing & Construction Start Baldwin & Sons May 2026 Construction Completion Baldwin & Sons May 2028
HOUSING &
HOMELESS
SERVICES
Staff Recommendation
Chula Vista Housing Authority adopt a resolution
authorizing the issuance of up to $14 million in tax-
exempt bond obligations for the 96-unit Sol Vista
Apts affordable housing development