Monamos Terrace Apartments


Goal: Offer amenity-rich, affordable housing, in the heart of Murrieta, California to very low-income individuals and families.

Monamos Terrace Apartments is a 139-unit new construction community, comprised of one-, two-, three-, and four-bedroom units and one manager’s unit. The project is located in in Murrieta, California, in the center of the Los Angeles-San Diego mega-region and will serve households earning 30%-60% below AMI.

A partnership between CDP, Étapes Corporation, and Pacific Housing, Inc., Monamos Terrace Apartments includes eight residential buildings, each three stories, and a one-story community building. In addition, the development will provide a BBQ area, computer room, playground, and fitness par course. Less than half a mile from the site is public transportation and numerous amenities and resources, including grocery stores, pharmacies, and shops. Within a mile of the site is Downtown Murrieta, with a public library, Elementary School, and medical center. Residents will also have access to a broad variety of resident programs and resident services that will be provided by Pacific Housing.


Monamos Terrace Apartment’s main sources of financing are County of Riverside HOME Funds, CTCAC 4% Tax Credits, CTCAC State Tax Credits, CDLAC Tax Exempt Bonds, and Project Based Vouchers (PVBs) from the Housing Authority of the County of Riverside. There will be eight 4-bedroom PBV units that are reserved for families at risk of homelessness. The site will be designed by SummA Architecture and built by Next Phase Construction.

  • Number of units: 139
  • Lot size: 4.12 acres (net); 4.29 acres (gross)
  • Density: 33.74 units/acre net; 32.4 units/acre gross
  • Unit size: 528-1,133 sf
  • Unit mix: 57 1BD, 36 2BD, 37 3BD, 9 4BD
  • Parking Spaces: 190
  • Affordability: 30%-60% AMI
  • Sustainability: Meet Title 24 and CalGreen code, PV solar panels
  • Total Cost: $65.8 M
  • Non-Profit Partner: Pacific Housing Inc
  • Architect: SummA Architecture
  • Contractor: Next Phase Construction
  • Property Management: FPI Management


CDP is proud to partner with these organizations that are critical team members and who share our mission of enhancing the quality of life for the communities in which we work.

Étapes Corporation

Étapes Corporation is a start-up real estate development and consulting company focusing on affordable multi-family housing market in California. The principal at Étapes Corporation is a passionate and well-rounded professional with over 26 years of design and real estate development experience in delivering sustainable quality market rate and affordable multifamily housing, condominiums, townhouses, retail, office, commercial, and tenant improvements within mixed-use, transit-oriented development, and master plan communities. We are team oriented and self-motivated problem solvers with a focus on efficiency and quality results. To learn more, please visit:

Pacific Housing Inc.

Pacific Housing Inc. has over 20 years’ experience creating service programs that meet unique interests and needs of each individual property and its residents. The organization serves as the Managing General Partner in over 130 affordable housing communities across California, with an ultimate goal of an affordable housing community that positively interacts with its surrounding neighborhoods, is well-designed and maintained, and provides its residents with opportunities for a healthy, empowering, and fun living experience. To learn more, please visit: