The Ventura Unified School District Board of Education voted Aug. 25 to sell two surplus properties for housing development in agreements totaling approximately $47.3 million – including a first-of-its-kind arrangement in Ventura County that will provide about 50 homes for District employees.
Under the larger agreement, VUSD will sell its 24.88-acre Education Service Center property at 255 W. Stanley Ave. for $39 million to an affiliate of MW Investment Group and HCD Investments LLC. Rather than receiving the entire purchase price in cash, the District will receive approximately $21.5 million in cash and about 50 completed housing units, valued at roughly $350,000 each.
The District will own the homes directly, giving it flexibility to determine who lives in them and what rents are charged. Unlike many affordable housing programs, the units will not be subject to income restrictions. This could allow VUSD to assist employees who earn too much to qualify for traditional affordable housing but still struggle to afford Ventura’s housing market.
“Our teachers and staff should be able to live in the community they serve,” said Superintendent Dr. Antonio Castoro. “We are taking a substantial share of the purchase price in the form of housing the District will own. That gives us real flexibility to help employees live in the city where they work.”
The District is surveying employees to determine the ideal mix of one-, two- and potentially larger units. A leasing policy will be developed and made public before the homes become available.
The second agreement involves the former Washington Elementary School property at 96 Macmillan Ave., which will be sold to City Ventures for $8.325 million, with the possibility of additional future payments. Unlike the Stanley Avenue agreement, VUSD will not own housing at the Macmillan Avenue site. Developer plans may include affordable units with priority for District employees, subject to standard income requirements.
Cash proceeds from the property sales are restricted by law and may be used only for repairs and improvements to VUSD facilities – not for salaries, supplies or other operating expenses.
Both sales followed an extensive public process. A Board-appointed “7-11 Committee” spent several years studying potential uses for District property and gathering community input. The Board declared the Stanley Avenue property surplus in 2021, and the District later issued requests for proposals for both properties.
“This was a deliberate, public process,” said Board President James Forsythe. “The 7-11 Committee did the study, the community weighed in, and we’ve spent years getting to a structure that serves both the housing need and the District’s long-term financial position.”
Board Trustee Saberna Rodriguez called the Stanley Avenue agreement “truly groundbreaking,” noting that it creates workforce housing without requiring a new bond or relying on state and federal affordable housing subsidies.
The District is preparing to relocate Education Service Center personnel to other District-owned properties. The move is expected to be at least a year away, and District operations will continue without interruption.
The property sales remain subject to the terms of the agreements, and any future development will require approval through the City of Ventura’s planning and entitlement process.
