THOUSAND OAKS : Affordable Housing Complex Proposed

A developer is proposing to build a three-story, 30-unit affordable condominium complex in an area of Thousand Oaks that now has no tall structures.

NuWest Development Co. wants to build the complex in Newbury Park on the south side of Borchard Road near West Kelly Road. The project would have six low-income units priced from $102,000 to $115,000 and 24 moderate-income units from $155,000 to $165,000.

The condominium units would be sold to first-time home buyers, with preference given to families already living in the city, officials said. The developer would also provide low-interest loans--not exceeding 7%--to buyers.

Applications for the units would be accepted based on annual household income and on the number of people that would reside in a single dwelling.

If the project is approved, it would be the first low-income housing available for purchase in Thousand Oaks since the mid-1980s, officials said.

City planners indicated in a staff report that they have some reservations about the three-story project because it would not easily fit in with the neighborhood.

“The visual magnitude or potential physical dominance of this project is most imposing particularly within the current semi-rural environment,” according to the staff report. The project will be considered by the Thousand Oaks Planning Commission at its meeting tonight.