A new mixed-use development in Thousand Oaks with 297 residential units, including 25 deed-restricted affordable rental units, is slated for construction after receiving approval from the city’s Planning Commission.
An existing two-office-building complex at 195 E. Hillcrest Drive is set to be demolished to make way for the development, scheduled to include a five-story apartment building and an internal five-level parking structure, according to a June 8 staff report.
The project also includes remodeling a 10,184-square-foot standalone commercial building for retail and restaurant uses.
Commissioners unanimously approved the project June 8.
Based on an initial review of project documentation submitted by the applicant, construction is expected to begin in the first quarter of 2027 and be completed in the second quarter of 2029, said Carlos Contreras, senior planner for the city of Thousand Oaks, in an email.
Gabe Hungerford, who represents the applicant and developer, Trammell Crow Co., said during the June 8 meeting that the project will remove underutilized office space and replace it with high-quality housing and “a little bit of repurposed retail.”
During the meeting, Hungerford said the office buildings were 32% leased to 16 tenants, all of whom had month-to-month leases or termination options. Those tenants will be notified at least 30 days before construction begins, he said.
“We’re looking to demolish the two office buildings and replace them with multifamily housing,” Hungerford said. “The existing retail building will actually be preserved in place.”
He said the project would preserve 44 of the site’s 61 protected trees, about 72%, after efforts to retain as many on-site trees as possible.
In an email after the meeting on July 2, Hungerford said he could not comment on the project “at this time.”
Commissioners voted 5-0 on June 8 to approve the project, which also includes surface parking and outdoor seating areas.
“I think this is a well-thought-out plan, and it looks beautiful, and I’m very happy to support this,” said Commissioner Sharon McMahon.
No members of the public spoke against the project, but the city received a letter from the Western States Regional Council of Carpenters criticizing the development.
The city “should impose training requirements for the project’s construction activities to prevent community spread of COVID-19 and other infectious diseases,” according to the letter. The letter also stated that the development overlooks “the scale and pace of regional development occurring in the immediate vicinity of the project site.”
The deadline to appeal the project’s approval was June 18, and no appeals were filed, Contreras said.
The proposed apartment building will include 39 studio units, 146 one-bedroom units, 102 two-bedroom units and 10 three-bedroom units, according to the staff report.
The report states that 25 units will be reserved for lower-income households. In Ventura County, the area median income for a two-person household in 2026 is $108,500, according to the staff report. The maximum lower-income limit for a two-person household is $100,500 annually.
The project’s maximum base density is 247 dwelling units, but the applicant sought a density bonus under state density bonus law, according to the report. The law requires housing projects to receive a density bonus based on the percentage of affordable units provided at a given household income level.
The purpose of the law is to encourage affordable housing development by incentivizing developers to include affordable units in new projects, according to the report.
Because the project has been approved and entitled, the applicant may now apply for permits and begin the post-approval process, Contreras said.
The post-approval permit process includes various construction permits and staff review of plans, documents and studies, Contreras said.
No documents have been submitted to begin the process, but the applicant has been working with city staff and intends to submit permit applications soon, he said.
Wes Woods II covers West County for the Ventura County Star. Reach him at wesley.woodsii@vcstar.com, 805-437-0262 or @JournoWes.
This article originally appeared on Ventura County Star: Thousand Oaks greenlights 297-unit project with affordable housing
Reporting by Wes Woods II, Ventura County Star / Ventura County Star
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By Wes Woods II, Ventura County Star | USA TODAY Network
