City of Chula Vista Staff Report Housing Funds March 2026
City extends $4M affordable housing loan to Wakeland
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Description
The City of Chula Vista is amending its $4 million loan commitment to Wakeland Housing and Development Corporation for a 96-unit permanent supportive housing project at 610 Paseo Del Rey. The extension gives Wakeland until March 17, 2028, to assemble full project financing and prepare for construction. Funding includes $3.3 million in HOME funds and $700,000 from the Low-Mod Income Housing Asset Fund.
Contract Details
Contract Amount
$4,000,000
Vendor
WAKELAND HOUSING & DEVELOPMENT CORPORATION
Agency
City of Chula Vista, CA
Contract Type
PROFESSIONAL_SERVICES
Document Date
March 15, 2026
Contract Term
June 11, 2024 – March 17, 2028 (extended from June 11, 2026)
Renewal Date
2028-03-17
Renewal Info
Initial term for assembling financing expired June 11, 2026; this amendment extends deadline by two years to March 17, 2028, for both City and Housing Authority loan commitments.
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