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The Santa Barbara City Council approved loans for two low-income housing projects at Tuesday’s meeting.
The first, a 56-unit Artisan Court project on East Cota Street, will be developed by the Housing Authority of the City of Santa Barbara. The loan, about $3.2 million, will fund project development and pay off the existing bank loans used to purchase the property.
The complex includes one apartment for a manager and 55 studio apartments designed for three target populations: youth transitioning out of foster care, the chronic homeless and low-income downtown workers.
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