By Jorge Mercado Friday, October 23rd, 2026

By Staff Report

In late September, the Cabrillo Economic Development Corporation celebrated its 45th anniversary, marking more than four decades of developing and managing service-enriched, inclusive residential communities that ensure access to affordable, secure, quality housing that creates the foundation for residents to grow and thrive.

Founded in 1981 by a community of farmworker families who organized to save their own homes from eviction, Cabrillo EDC has grown into the largest developer of affordable housing in Ventura County, with a mission that now extends into Santa Barbara and San Bernardino Counties. Today, Cabrillo EDC manages 27 properties throughout Southern California.

“Over forty-five years ago, a group of farmworker families worked together to protect their homes, and everything we have built since carries that same spirit forward,” said Victoria Brady, chief executive officer of Cabrillo EDC. 

“This milestone belongs to the residents who have trusted us, the staff who have dedicated their careers to this mission and the partners and supporters who have stood beside us through decades of growth. We are proud of how far we have come, and just as excited about what the next 45 years will bring.”

Looking ahead, Cabrillo EDC plans to grow its pipeline of affordable housing developments both within Ventura County and in neighboring counties, continuing 45 years of work while adapting to meet the needs of the communities it serves.

Cabrillo EDC will celebrate the milestone with an inaugural community event, Roots & Roofs 2026: Celebrating 45 Years of Cultivating Community & Building Opportunity, on Nov. 5 from 4 p.m. to 7 p.m. at Camarillo Ranch (201 Camarillo Ranch Road, Camarillo). Tickets and sponsorship information are available at https://www.cabrilloedc.org/roots-and-roofs/. 

UPDATE ON PROGRESS 

Santa Barbara City College recently provided an update regarding key developments under the Measure P Bond Extension, highlighting major ongoing construction initiatives, new appointments to the Citizens’ Bond Oversight Committee and proactive campus environmental mitigation measures.

Construction funded by the Measure P Bond Extension continues to advance on the new Michael A. Goldberg Physical Education Building. Thanks to a $5 million donation by Cheryl Goldberg, the building was recently named after her late husband. In addition, SBCC named the gymnasium within the building after longtime physical education faculty member Kathleen “Kathy” O’Connor Kathleen “Kathy” O’Connor, who was a long-time champion and advocate for the new building. 

Scheduled for completion in mid-2028, the facility will deliver state-of-the-art classrooms, event spaces, offices and a new home for the SBCC Life Fitness Center — all within a smaller footprint of the previous facility. 

Moreover, SBCC continues to plan for future campus improvements through its Measure P Bond program. As part of the first round of bond-funded improvements, campus parking lot renovations have been approved and funded. This addresses important infrastructure needs at the College’s Cliff, Schott, and Wake campuses. Repaving efforts are anticipated to begin in early 2027. 

Lastly, in preparation for the upcoming El Niño rainy season, SBCC continues to coordinate with its construction management team, general contractor and the city of Santa Barbara regarding stormwater management and site protection measures.

DEALS OF THE WEEK

• Thousand Oaks-based Anchor Loans, a leading private real estate lender and a Pretium majority-owned portfolio company, announced the closing of $58.5 million in vertical construction financing for two build-to-rent communities in Deltona, Florida, being developed by repeat borrower Agador Spartacus Development.

The financings include approximately $30.2 million for Magnolia Cottages at Deltona, a 153-home community, and $28.3 million for Magnolia Villas at Deltona, a 126-home community.

Located on adjacent parcels, the projects will add a combined 279 rental homes, including a mix of cottages, duplexes and townhomes. Both communities are planned with dog parks and clubhouse amenities.

• Westlake Village-based LTC Properties, a real estate investment trust specializing in seniors housing and healthcare properties, announced the acquisition of two communities in its seniors housing operating portfolio for $95 million, building on the company’s recent progress and reinforcing its SHOP-focused external growth strategy.

LTC’s year-to-date SHOP acquisitions now total over $830 million, representing more than 90% of its midpoint acquisition guidance of $900 million. LTC is on track to reach the midpoint of its acquisition guidance by year-end, at which point SHOP is expected to represent nearly 50% of the company’s annualized net operating income.

The two deals included a $71 million acquisition of a 180-unit independent living, assisted living and memory care community in Alabama. Charter Senior Living, an existing LTC SHOP operator, will continue to manage the community. 

The other was a $24 million off-market acquisition of an 85-unit assisted living and memory care community in Iowa. Arrow Senior Living, an existing LTC SHOP operator, will continue to manage the community.

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