Laguna Niguel
Bonds for Family Housing: The Orange County Board of Supervisors has issued $42 million in revenue bonds for multifamily rental housing. The money will finance construction of the Monarch Bay Apartments, a 450-unit rental housing project in Laguna Niguel. As part of the bond program, at least 20% of the new units must be made available to families earning no more than 80% of the county’s median annual income, which is about $28,160. The new housing, to be developed by Regis Homes Corp. of Newport Beach, will be constructed on the southeast corner of Camino del Avion and Crown Valley Parkway.
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