Isla Vista’s Loop Building Changing Hands

Isla Vista’s Loop Mixed Use Building on Trigo Road will be sold to a new owner but will remain affordable housing for the originally required 55 years, the county supervisors voted Tuesday. In December 2010, d3 Partners received a five-year, $1.5 million loan from Redevelopment Agency funds for the building, which has five of its 25 units reserved for low-income residents. Under the loan agreement, d3 paid back the $1.5 million plus interest.

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