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September 29, 2023
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Moorpark Site to Be Developed into 200-Unit Affordable Housing Project


An 18-acre development site in the city of Moorpark has traded hands. Danco, an affordable housing developer, has acquired 12 acres for construction of a 200-unit affordable multifamily housing project, with the remaining six acres going to the City of Moorpark. The seller was Essex Property Trust.

The res project, Vendra Gardens, is in the pre-development phase but is expected to be valued at $146 mil at completion. It is located at 150 Casey Rd, north of the 118 Fwy and just west of Moorpark Ave.

The proposed development is centrally located in the bustling Conejo Valley with easy access to area services including Walnut Canyon School to the west, Moorpark City Hall to the east, Moorpark City Library to the southeast, and the United States Postal Service to the South.

The development consists of 80 one-bedroom/one-bathroom units, 68 two-bedroom/two-bathroom units, and 52 three-bedroom/two-bathroom units in addition to a 2.5k sf leasing building and a 2.5k sf amenity building. The focus of the layout will include vibrant landscaping, impromptu public spaces that encourage resident interaction, and contemporary building exteriors reflective of local vernacular and massing in a classic color palette.

The funding for the project was provided through tax credits by the California Debt Limit Allocation Committee. A grading permit has already been issued. The units will be available for those who make 30 to 60 percent of the Area Median Income (AMI), which will account for 65% of the total project.

Matt Benwitt and J.C. Martin with Lee & Associates LA North/Ventura represented the buyer in the transaction.

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