South River Village Affordable Apartments
Groundbreaking Ceremony with Oceanside Mayor Esther Sanchez

26 June, 2024

Located at 4933 North River Road, the 43 units fulfill the inclusionary housing requirements of Lennar Homes market rate North River Farms development, a sustainable, mixed-use community located in Oceanside’s South Morro Hills neighborhood.

The ceremony was  memorable in so many ways. Oceanside Mayor Esther Sanchez spoke about the challenges of getting affordable housing in Oceanside and her enthusiasm for future prospects with developers like Mirka.

Kursat Misirlioglu, Founder & CEO of Mirka Investments discussed the importance of partnerships and the incredible tenacity and teamwork required to execute on an affordable housing project.

Bob Cummings, President of Mirka Investments was a gracious host of the event. Steve Herman, Senior Vice President of California Bank & Trust spoke as well William Teschke, Managing Director of Hunt Capital Partners. Broken Yolk with their amazing generosity, furnished a bountiful and nourishing breakfast for all. 

Designed in Spanish Mission style, the four-story South River Village Affordable Apartments will have 20 one-bedroom apartments of 573 square feet, 12 two-bedroom apartments of 784 square feet, and 11 three-bedroom apartments of 1,007 square feet.

The apartments will be earmarked for individuals and families with annual incomes ranging from 30% to 80% of the Area Median Income. Fifteen of the apartments in South River Affordable Apartments will be set aside for individuals or families with developmental disabilities.

The apartments in South River Affordable Apartments will have balconies with shared amenities that include a tot lot, a community room, a laundry room, and 28 parking spaces.

“We look forward to the next phases of South River Village Affordable Apartments. And a deep thank you to all our stakeholders and friends who attended the event. It truly was a beautiful day and always a pleasure to speak face to face.

Looking forward to more journeys in the wonderful City of Oceanside!”

The Mirka Team

Mirka Investments, LLC 

FOUNDED: 2018
CEO: Kursat Misirlioglu
HEADQUARTERS: Downtown San Diego
BUSINESS: Affordable housing development
EMPLOYEES: 10
WEBSITE: www.mirkainvest.com
CONTACT: 619-323-1447
NOTABLE: Mirka Investments has developed multiple affordable housing projects in Southern California, concentrating on communities within San Diego County.