POWAY, Calif., June 3, 2015 /PRNewswire-USNewswire/ -- Villa de Vida, a non-profit organization whose mission is to build supportive housing for adults with developmental disabilities, today announced that it has entered into an exclusive negotiating rights agreement with the City of Poway to build a 54-unit apartment complex.
The agreement seeks to pursue further discussions and negotiations with the City of Poway to evaluate the possibility of developing a 3.18 acre site in Paguay Redevelopment Project Area, consistent with the city's plan to revitalize the area, provide affordable housing, and bring economic and employment benefits to the city.
"As the proud father of a son with special needs, I can personally attest to the need for the person-centered supportive housing," said Edward B. Merchant, Chairman of Villa de Vida. "We have modeled this development after other highly successful developments in Orange County and across the nation, which enable adults with special needs to achieve a level of independent living and more fully integrate into the communities where they live.
"We are very pleased to pursue this opportunity with the City of Poway, with the strong support of premier housing developer Mercy Housing, as well as numerous families with special needs loved ones in search of a home of their own."
The development, subject to further due diligence, approval and permitting, would target completion in approximately three years. 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
Executive Director, Villa de Vida
SOURCE Villa de Vida