City of Carlsbad City Council Agenda 2026-06-09
City Approves Sale & Loan for Chestnut Apartments
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Description
Carlsbad City Council will consider authorizing the sale and transfer of 945 Chestnut Avenue to The Chestnut Apartments, LP via a carryback loan for the appraised value. A companion resolution would provide a Housing Trust Fund loan of up to $850,000 to support development costs for The Chestnut Apartments project.
Contract Details
Contract Amount
Carryback loan for appraised value plus Housing Trust Fund loan not to exceed $850,000
Vendor
CHESTNUT APARTMENTS LP
Agency
City of Carlsbad, CA
Contract Type
FINANCIAL_SERVICES
Document Date
June 9, 2026
Renewal Info
One-time property sale with carryback loan and a separate Housing Trust Fund loan; specific loan terms, maturities, and any extension options are not detailed in the agenda.
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