California Community

Portola Terrace, Temecula

Portola Terrace

Portola Terrace is located in the Old Town Specific Plan Area. The 1.5-ac. redevelopment site includes 45 family apartments (29 dua), and the design is a traditional Spanish/Mediterranean exterior with porches and stoops along Pujol Street.

An allocation of $4,871,000 in 4% Low-Income Housing Tax Credits was awarded in 2011. The RDA funded $5,579,000.

The site is located near a Riverside Transit bus line, Temecula Community Park, Community Center, health clinic, market, pharmacy and Old Town Temecula.

Construction is three levels of Type V with 95 spaces in a garage. Amenities include a large community room with a computer lab, pool, barbecue areas, and children’s playground.

100% affordable: 5 units – 50% AMI, 39 units – 60% AMI.

Year Built

2013

Type

Family

No. Units

45

Total Cost

$13,650,000

Developer

AMCAL Multi-Housing

Contractor

AMCAL General Contractors

Architect

Withee Malcolm

Financing

Equity

$5,365,000 Raymond James

Construction

$7,390,000 Citibank

Permanent

$2,380,000 Citibank

Agency

Non-Profit

Las Palmas Foundation