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VENTURA COUNTY — Housing Trust Fund Ventura County (Housing Trust Fund VC) has approved $2 million in loans to create 291 affordable homes across two Oxnard communities. The funding will support Lockwood Phase III and Cypress Place Phase II, addressing the critical need for housing among working families, farmworkers, and low-income households. Local developer Homes & Hope will receive a $500,000 predevelopment loan to develop Lockwood III, creating 232 apartment homes for families earning 30-70% of area median income (AMI). People’s Self Help Housing Corporation will receive a $1.5 million predevelopment loan for Cypress Place II, which will provide 59 apartment homes for households earning 30-60% of area median income (AMI).
Cypress Place at Garden City II will bring 59 affordable apartment homes to Oxnard families earning 30-60% of AMI, with 43 units specifically designated for farmworker housing. The development includes three buildings on a two-acre site, offering 12 one-bedroom, 27 two-bedroom, and 21 three-bedroom units. One additional unit will house a full-time property manager. All units will remain affordable for at least 55 years, ensuring long-term affordability for generations. Housing Trust Fund VC previously provided an $850,000 acquisition loan in August 2020 for the first phase of this project, which created 150 affordable apartment homes.
The Lockwood III development in Oxnard will provide 234 apartment homes for low- and very low-income families, earning 30-70% of area median income. Residents will have access to a club room, fitness room, laundry facilities on each floor, two courtyards for recreation and gatherings, and parking for 240 vehicles plus bicycle storage. As with Cypress Place, this development will remain 100% affordable for at least 55 years.
“These loans allow us to address Ventura County’s urgent housing crisis at a time when the need has never been greater,” said Linda Braunschweiger, CEO of Housing Trust Fund VC and Housing Land Trust VC. “By creating supporting the creation of 291 affordable apartments in Oxnard, we’re working to close the gap for the 23,937 low-income renter households in Ventura County who currently lack access to affordable housing.” Braunschweiger references data from the 2024 Ventura County Affordable Housing Needs report by California Housing Partnership.
Since its founding, Housing Trust Fund VC has been the region’s leader in expanding affordable housing options through public-private partnerships that provide low-cost, flexible loans early in the housing development cycle. As of December 2025, Housing Trust Fund VC has committed $51 million through its Revolving Loan Fund, creating 2,193 affordable apartments and homes for very low-, low-, and middle-income individuals and families, transitional age foster youth, veterans, farmworkers, seniors, and people experiencing homelessness.
To learn more about Housing Trust Fund VC’s work, the community is invited to attend the nonprofit’s upcoming Annual Meeting on February 25, 2026, 8:30 am to 11:00 am, at the Camarillo Public Library. Tickets are available at www.housingtrustfundvc.org
Housing Trust Fund Ventura County – Launched as a 501c3 nonprofit corporation in 2011, Housing Trust Fund VC is the local trusted leader in helping to increase affordable housing options throughout Ventura County by leveraging public-private partnerships to provide low-cost, flexible loans early in the housing development cycle. As of December 2025, Housing Trust Fund VC has committed to investing $51 million through its Revolving Loan Fund, creating 2,193 affordable apartments and homes for very-low, low-and middle-income individuals and families, transitional age foster youth, veterans, farm workers, seniors, and individuals experiencing homelessness.
