Anacapa Canyon, a new master-planned community developed by Kennedy Wilson in Camarillo, has been completed with the first residents moving in.
The newly built community represents a unique public-private partnership with California State University Channel Islands (CSUCI) that generates a significant revenue stream to benefit the campus while delivering much-needed housing to the local community. As master-developer, Kennedy Wilson constructed 32 acres of infrastructure as well as the wholly owned apartments.
The company’s affordable housing joint venture partner, Vintage Housing, utilized affordable housing tax credits to build and offer 170 high quality apartment homes, which are 100% pre-leased to income-qualified seniors. The for-sale homes and townhomes are being built and sold by Comstock Homes in a joint venture that includes Kennedy Wilson as a minority partner, as well as Hearthstone.
The project is a continuation of a nearly 10-year partnership between Kennedy Wilson and CSUCI. Kennedy Wilson originally acquired an existing wholly owned 386-unit Mission Hills apartment community and 15k sf of retail from CSUCI in the adjacent University Glen neighborhood in 2016 and has since invested approximately $10 mil to enhance unit interiors and amenities available to all resident of the University Glen community.
