City of Poway Approves Agreement with Villa de Vida and Mercy Housing to Develop Housing for Adults with Special Needs

POWAY, Calif., Oct. 5, 2016 /PRNewswire-USNewswire/ -- Villa de Vida, a non-profit organization whose mission is to build supportive housing for adults with developmental disabilities, today announced that the City of Poway has approved a Disposition, Development and Loan Agreement that outlines the terms for the transfer of land, funding and a development plan for a proposed 54-unit apartment complex for adults with developmental disabilities. 

The agreement follows year-long discussions and negotiations with the City of Poway to evaluate the proposed development of a 2.71 acre site in Paguay Redevelopment Project Area. Public hearings were also conducted that allowed the community to express its views. 

"We are very encouraged by the unanimous approval we have received from the Poway City Council yesterday and the broad public support for this project," said Edward B. Merchant, Chairman of Villa de Vida. "The city, proud families of special needs adults, our development partner Mercy Housing, and a multitude of friends and generous donors have all joined together to help move this project forward. We have a lot more work to do, but I am pleased to say we are on track with our goal to help special needs adults achieve a level of independent living."

The development, subject to further due diligence, approval and permitting, would target completion by 2019. For more information about Villa de Vida and updates about the development, visit www.villadevida.org.

About Villa de Vida
Villa de Vida is a non-profit corporation committed to enabling adults with special needs to live independently by building supportive residential communities.  Villa de Vida seeks to provide safe housing, promote healthy lifestyles, foster meaningful relationships and help its residents participate more fully in the community. www.villadevida.org

About Mercy Housing
Mercy Housing is a national non-profit organization that has participated in the development, preservation and/or financing of more than 45,000 affordable homes.  Mercy Housing California (MHC), the largest division of Mercy Housing, Inc., has developed and manages nearly 8,000 affordable rental units in 128 properties throughout the state. www.mercyhousing.org    

Contact:
Ashley Kim
Executive Director, Villa de Vida
310-400-6422
[email protected]

SOURCE Villa de Vida