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Montecito Vista

In Irvine, California—the heart of affluent Orange County—Montecito Vista is a 162-unit garden-style apartment complex that is home to those earning between 30 and 50 percent of the area median income. Developed by Jamboree Housing Corporation, a nonprofit housing firm, the seven three-story walk-up buildings are sited on 7.03 acres (2.84 hectares) of land leased from the Irvine Company. Providing much-needed residential alternatives, the two- and three-bedroom units rent from $461 to $1,190 per month, which is less than the median gross rent of $1,272 for the county.

The complete ULI Development Case Study report is available by subscription at www.casestudies.uli.org.