CRP Affordable Housing & Community Development Acquires Development Site In Capitola For $4.6M

The Bluffs on 44th is a development site located at 4401 Capitola Road in the city of Capitola. This upcoming project is set to be the largest development in Capitola in over ten years. With an expected construction start in Q1 of 2024 and completion in Q2 of 2025, the project is anticipated to bring significant growth to the area. The development will consist of 36 affordable housing units catering to families and individuals within the 30-80% AMI range.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $4,565,000
• Address: 4401 Capitola Road
• Market: Capitola

The buyer of this development site is CRP Affordable Housing & Community Development. The sellers are Claudia & Don Caudle. Facilitating the transaction is Alberto J Guardado from Real Estate Collective Group.

It is worth noting that the Bluffs on 44th will provide much-needed affordable housing options in Capitola, catering to individuals and families within a specific income range. The development is expected to positively impact the community by addressing the housing needs of lower-income residents.