USA Properties Starts Construction of $114M Multifamily Complex in Simi Valley, California

SIMI VALLEY, Calif. — USA Properties Fund has commenced construction on two apartment projects in Simi Valley. Totaling $114 million, the combined communities will offer a total of 311 mixed-income, multi-generational units to the area.

Situated on nearly 13 acres, the projects are The Landing at Arroyo, a market-rate community, and Vintage at Sycamore, an affordable seniors housing community for residents at least 62 years old. The project is located on the former Rancho Simi Recreation and Park District’s headquarters.

Vintage at Sycamore will feature 99 apartments for seniors earning 50 percent to 70 percent of the area’s median household income. The property will offer one-bedroom units featuring energy-efficient appliances, a patio or balcony and laundry rooms on each of the three floors. The $32 million community will feature a clubroom, fitness center, computer center with Wi-Fi and printers, swimming pool, an outdoor seating area with barbecues and a pet area.

Completion of Vintage at Sycamore is slated for late 2021. County of Ventura contributed a $3.5 million subsidy for the project.

The Landing at Arroyo will offer 212 one-, two-, and three-bedroom apartments with stainless steel appliances, a kitchen island, in-unit washers/dryers, high-end flooring and private balconies with storage closets.

Community amenities will include a clubhouse with kitchen; fitness center; game room; saltwater swimming pool and spa with cabanas; outdoor dining areas with fire pits; a child play area; dog wash station; outdoor exercise area; a locker room for packages; and private enclosed garages.

USA Properties partnered with Century Housing, East West Bank and Gables Residential on the $82 million project. Completion for Landing at Arroyo is scheduled for late 2022.