Wakeland Housing, in partnership with Price Philanthropies Foundation, hosted a grand opening celebration on April 15 for The Teralta, a new mixed-use affordable housing community in San Diego’s City Heights neighborhood that transformed a historic 1948 landmark into 73 affordable homes for families.
Located at 4341 El Cajon Boulevard at the intersection of Fairmount Avenue, The Teralta represents a $71 million investment in the community, preserving the distinctive façade of the former Superior Furniture Co. building while creating new housing opportunities for low-income families and activating the street with space for community-serving businesses.
“The Teralta brings new life to a historic City Heights landmark while creating housing that meets the real needs of families in this community,” said Dani Halton, Wakeland Housing’s Project Manager for The Teralta. “This development reflects what’s possible when thoughtful design, strong partnerships, and community investment come together.”
Housing advocates, elected officials, community leaders, and project partners attended the April 15 ceremony to celebrate the completion of the development, including San Diego Mayor Todd Gloria.
“City Heights is a community that has always spoken up about what it needs, and this project reflects that,” said Mayor Todd Gloria. “Neighbors asked for more homes for families, especially larger households, and today that’s becoming a reality at The Teralta. Further, this development preserves the historic Superior Furniture Co. façade—honoring the neighborhood’s history while creating new opportunities for families today. This is what it looks like when we work together to build more homes where people need them.”
Family-Focused Housing That Meets Community Needs
The Teralta includes 73 apartments serving households earning between 30% and 60% of Area Median Income. Rents range from approximately $844 to $2,698, depending on unit size and income level.
Designed in response to requests from the City Heights community, 45 of the homes are three- and four-bedroom units, addressing a critical shortage of larger affordable housing options for multigenerational families in City Heights. In addition, 33 apartments are supported by Project-Based Vouchers through the San Diego Housing Commission, ensuring affordability for extremely low-income households.
Historic Preservation with Modern Purpose
The development preserves and reimagines the historic 1948 Superior Furniture Co. building, integrating its Art Deco façade into a cohesive new design by Dahlin Group Architecture, executed by Level 10 Construction. This revitalization transforms an outdated older building into a vibrant residential and commercial community, contributing to the enhancement of one of City Heights’ most prominent intersections.
Community-Centered Design and Services
The Teralta is designed to support the daily lives of working families with amenities that promote connection, stability, and well-being. The property includes a central community room with kitchen and computer lab, a landscaped courtyard with play and barbeque areas, and a third-floor roof deck for gatherings and events.
While living at The Teralta, residents have access to onsite services through Wakeland Housing’s award-winning Resident Services program, offering personal and professional development support, youth services, and community involvement. Residents will also be invited to participate in an innovative new transit program that subsidizes and encourages transit use.
Two ground-floor commercial spaces are available for local community-serving businesses, contributing to neighborhood vitality and economic activity.
Built Through Strong Public-Private Partnerships
The Teralta was made possible through a collaborative public-private financing structure, with key funding partners, including Price Philanthropies Foundation, the California Tax Credit Allocation Committee, City of San Diego, San Diego Housing Commission, U.S. Bank, and the Federal Home Loan Bank of San Francisco, among others.
The development is the third affordable housing community completed by Wakeland Housing and Price Philanthropies Foundation, and reflects a strong partnership in the City Heights community. Wakeland Housing is the largest provider of affordable housing in City Heights, with more than 500 affordable homes across 18 properties, reflecting the nonprofit’s deep roots and ongoing investment in this neighborhood.
About Wakeland Housing
Wakeland Housing transforms lives and communities with high-quality affordable and supportive housing paired with impactful resident services. With more than 9,000 homes across 70 properties, Wakeland creates housing that serves as a foundation for health, stability, and opportunity for low-income families, seniors, veterans, and individuals who have experienced homelessness. Learn more at www.wakelandhdc.com.
About Price Philanthropies Foundation
Price Philanthropies Foundation was founded by retail entrepreneur and philanthropist Sol Price and his wife Helen in 1982. The foundation’s mission is to improve life opportunities for underserved youth and families, and their communities. Its grant making occurs primarily in San Diego County, with a focus on City Heights. For more information visit: https://pricephilanthropies.org/
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