Monterey Bay Economic Partnership (MBEP) Celebrates Groundbreaking on July 15 in King City for CHISPA’s Affordable Housing Development Targeting Farmworkers; Monterey Bay Housing Trust provided early financing to help launch development

 

(July 15, 2026 — Marina, CA) — Monterey Bay Economic Partnership (MBEP) joins with leaders from across the region in celebrating a groundbreaking ceremony on Wednesday, July 15 for Mills Ranch Apartments, an affordable housing community bringing much-needed rental housing to low-income households and farmworker families in King City.  

The project, which is being developed by MBEP member Community Housing Improvement Systems and Planning Association Inc. (CHISPA), received a $680,000 predevelopment loan in 2021 from the Monterey Bay Housing Trust (MBHT) to help acquire the property. MBEP also joined CHISPA and other regional and statewide advocates to successfully ensure $11.7 million in funding from the Affordable Housing and Sustainable Communities Grant Program, which helps fund housing and transportation improvements for this important development.    

The Monterey Bay Housing Trust (MBHT) is a revolving loan fund sponsored by the Monterey Bay Economic Partnership (MBEP) and Housing Trust Silicon Valley. MBHT provides flexible, early-stage financing for land acquisition, predevelopment construction or preservation of affordable housing projects across Monterey, Santa Cruz, and San Benito counties — capital that traditional lenders often cannot provide. As loans are repaid, the funds are reinvested into the next project, creating a sustainable source of financing for future housing.

Beginning with an initial investment of $1.5 million, the Monterey Bay Housing Trust has helped deploy more than $54 million in financing, supporting approximately 1,200 new and preserved affordable homes.

“In order for our regional economy to thrive, working families need access to safe, affordable housing,” said Monterey Bay Economic Partnership President & CEO Tahra Goraya. “By jumpstarting high-quality projects such as Mills Ranch Apartments, the Monterey Bay Housing Trust is creating new opportunities for low-income residents and stability for our agricultural workforce.”

When completed, Mills Ranch Apartments will consist of 40 two- and three-bedroom townhome-style units, spread across eight two-story buildings. Thirty units will be allocated as permanently affordable rental housing reserved for agricultural workers and their families. 

Location matters: Located within the Mills Ranch Subdivision, at 147/235 Ermosa Way, 164/260 Legacy Drive, and 691 Brandywine Lane, the Mills Ranch Apartments are within easy access of essential amenities, including public transit, a public park, library, medical services, schools, and grocery store, reducing vehicle congestion on local roads as well as greenhouse gas emissions. 

Significance of farmworker housing: Housing — particularly housing that serves low-income households and our local workforce— is one of the Monterey Bay region’s most pressing needs, essential for a stable workforce and economic growth. Demand for farmworker housing is particularly high: According to the 2018 Salinas and Pajaro Valley Farmworker Study, it would take an additional 33,159 units of farmworker housing over the long-term to alleviate critical overcrowding in farmworker households. MBEP is turning that data into action, with a lead role in the implementation of the Farmworker Study Action Plan, which aims to produce permanent, affordable farmworker housing units to stabilize the workforce.

Additional funding for the development has been provided by the National Equity Fund (NEF), US Bancorp, the state’s Joe Serna Farmworker Loan Program, HOME Investment Partnerships Program through the California Department of Housing and Community Development, Affordable Housing and Sustainable Communities (AHSC) program administered by by the California Department of Housing and Community Development, California Strategic Growth Council, California Tax Credit Allocation Committee, King City’s Permanent Housing Allocation (PLHA) Funds, Central California Alliance for Health, Local Initiatives Support Corporation (LISC) Healthy Housing Grant, Rocky Mountain Community Reinvestment Corporation (RMCRC), and California Climate Investments (funded through the Greenhouse Gas Reduction Fund).

About Monterey Bay Economic Partnership (MBEP): Monterey Bay Economic Partnership (MBEP) is a regional member-supported nonprofit organization consisting of public, private, and civic entities located throughout the counties of Monterey, San Benito, and Santa Cruz. Founded in 2015, our mission is to improve the economic health and quality of life in the region.