CARLSBAD, Callif., July 08, 2025 (GLOBE NEWSWIRE) — WNC & Associates (WNC), a family-owned business known as both a pioneer and leader in the affordable housing industry, and Mirka Investments, LLC, a San Diego -based affordable housing development firm, have closed a deal to begin construction on La Costa Family Apartments, a new affordable housing community in Carlsbad, California.
Located at La Costa Avenue and Camino de las Coches, the three-story, L-shaped building will provide 19 affordable housing units at 100% LIHTC, with a breakdown of three units at 30% of area median income (AMI), three units at 50% AMI, 10 units at 60% AMI, and three units at 80% AMI. The property will offer a mix of one-, two- and three-bedroom units, aimed at serving families and the growing workforce in San Diego.
“Over the past 15 years, the San Diego County workforce grew nearly 24%, leading to the needs for more affordable housing for its residents and families,” said Anil Advani, Executive Vice President, Originations and Finance at WNC. “The addition of La Costa Family Apartments will provide the community with critical affordable housing options within the established La Costa Oaks South neighborhood.”
Units will be outfitted with a range, refrigerator, dishwasher, garbage disposal, microwave, window air conditioning, window blinds, ceiling fans and vinyl flooring. Proposed community amenities include an office for on-site management, laundry facility and storage located at the southwestern portion of the building. The property will also include a courtyard located on the western portion of the building.
La Costa Family Apartments will offer residents convenient access to nearby opportunities for shopping, employment, recreation, entertainment and education, including several commercial businesses, a bus stop and a grocery store adjacent to the property.
“We are thrilled to partner on the La Costa Family Apartments project, which reflects our unwavering commitment to addressing the critical need for affordable housing in San Diego County,” said Kursat Misirlioglu, Principal and CEO at Mirka Investments, LLC. “This development not only provides quality homes for families but also strengthens the La Costa community by supporting its growing workforce and fostering a sense of belonging.”
The project will break ground immediately and construction is expected to be completed in March 2026.
About WNC & Associates
Founded in 1971, WNC & Associates (WNC) is a family-owned business known as both a pioneer and leader in the affordable housing industry. WNC and its affiliated companies specialize in tax credit syndication, affordable housing development, and preservation equity fund investments. Combined, the WNC companies have acquired approximately $18.2 billion in assets across 48 states, including more than 1,800 affordable rental properties that house more than 1 million residents. With offices in 16 states, WNC has partnered with more than 400 developers and 125 institutional investors. To learn more, visit: https://www.wncinc.com/.
MEDIA CONTACT:
IDEA HALL
Meghan Webb
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/43ef4cde-5dbb-4d3b-956d-bba7e7e88c16