River Walk Terrace

River Walk Terrace will be an age restricted (55 years of age and older) residential low-income housing community located in Paso Robles, CA. The development is a partnership between AHDC and Paso Robles Housing Authority and will consist of 79 total units, including one manager’s unit with a mix of 70 one-bedroom units and 9 two-bedroom units ranging in square footage from approximately 650 to 850 square feet. 100% of the units will be rent restricted to individuals with incomes ranging from 30%-60% of the Area Median Income (AMI).

The development is located on an approximately 4.21 vacant parcel at the south western corner of a large commercial shopping center known as Woodland Plaza II. Major retail tenants consist of Wal-Mart, Kohl’s, Big Five Sporting Goods, McDonalds and several other retail-oriented businesses and fast-food restaurants. The vacant parcel was re-zoned from commercial to Mixed Use by the City as part of the 2020-2028 City of Paso Robles Housing Element that was approved by the State of California. This rezone provides the appropriate zoning for the proposed senior development. Based on the development plan, River Walk Terrace is consistent with the goals established by the City’s approved Housing Element to enable residential uses at this site. Residents will be in close proximity to shopping and other services including public transit, thereby reducing vehicle miles traveled.

River Walk Terrace received all entitlement approvals from the City of Paso Robles in February 2021 and received an allocation of Federal and State Low Income Housing Tax Credits (LIHTC) at the end of 2022. Other sources of financing include County of San Luis Obispo HOME Funds, San Luis Obispo County Local Housing Trust Funds, a deferred impact fee loan from the City of Paso Robles and a loan from the Paso Robles Housing Authority. The development is expected to complete construction and begin moving in residents Winter 2024.