HTF provided a $750,000 working capital and bridge-financing loan to Habitat for Humanity of Southern Santa Barbara County (HHSSBC) to enable them to start construction of the Canon Perdido Condominiums while the agency raises the rest of the development’s permanent financing. The project is a 12-unit new construction self-help homeownership project comprised of 2 one-bedroom, 8 two-bedroom and 2 three-bedroom units. The project style is craftsman townhome, with of 18,656 square feet of residential use in three buildings ranging in height from one to three stories tall. Green building design has been incorporated into the project wherever possible. Project amenities include a common area and space for a community garden, a tot lot and barbeque and picnicking area.
This project site is advantageously situated adjacent to the Milpas Street corridor with shopping, restaurants, laundry facilities and public transportation and is within two blocks of Santa Barbara High School, the Boys and Girls Club and other community agencies. The Canon Perdido Condo Project is a 100% affordable to households earning between 40-80% of Area Median Income. The project serves families that have lived or worked in the South Coast for the past year, have a need for a decent affordable home, and are willing to contribute 250 hours of “sweat equity” to complete their home. Habitat for Humanity will carry the first mortgages for the homebuyers and will also participate in the management of the Homeowner’s Association. To volunteer or contribute, please contact Habitat for Humanity.
