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2 Orange apartment complexes pivoting to affordable workforce rents – Orange County Register
More workforce housing is coming to Orange County, this time to Orange. Newport Beach-based Waterford Property Co., in partnership with California Statewide Community Development Authority, has bought two apartment complexes with 356 total units in Orange for $206 million. The deal included Cameo, a 262-unit complex at 1055 W. Town and Country Road, for $149 million, and Garrison, a 94-unit complex at 1725 West Katella Ave. for $57.05 million. Related: How a workforce rent program aims to plug ‘missing middle’ housing gap The complexes will be converted to affordable housing for middle-income workers earning between $56,000 and $134,000. Waterford, as administrator, and the CSDA will begin lowering rents for qualified…