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Developer says Trails at Carmel Creek senior community remains on schedule; rent increases limited by contract
Summary
Staff reported the Trails at Carmel Creek senior housing development is following its planned path; the developer intends to raise rents by the allowable 5% annual cap for the affordable/fixed‑income project. Occupancy figures were not provided; staff will follow up.
Staff provided an update on the Trails at Carmel Creek senior living community, reporting the developer remains on the previously described timeline and intends to implement permitted 5% annual rent increases under the project’s affordability structure. The board asked about occupancy levels; staff did not have that figure on hand and agreed to follow up with the developer to provide occupancy data.
No action was taken; the update was informational and staff will report back with occupancy and related metrics.
