SWENSON Breaks Ground on $102MM, 233-Unit Calypso Affordable Housing Project in Downtown Santa Cruz

SWENSON has started construction on Calypso, a six-story, 233-unit studio building at 130 Center Street in downtown Santa Cruz, ending a five-year stall in which the project was approved as market-rate housing, sat idle through the interest-rate shock and came back as a 100 percent affordable deal financed with tax-exempt bonds and federal tax credits.