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SAN DIEGO — A ribbon-cutting ceremony Wednesday unveiled a new affordable housing development in San Diego’s Valencia Park neighborhood, city officials said.

Valencia Pointe is a 102-unit apartment building, located at 5930 Division St., featuring a mix of 58 two-bedroom apartments, 43 three-bedrooms and a manager’s unit, San Diego County spokesperson Anita Lightfoot said.

Local leaders gathered at the site to celebrate the grand opening of the $5.2 million investment that was funded from San Diego County’s $70 million Innovative Housing Trust Fund, the city official said.

Some of the units at the four-level, family-focused property surround a large interior courtyard with a play area and community gathering space.

“Valencia Pointe is a safe, clean and centrally located place to call home for families living below the area median income,” Lightfoot said. “It offers families stability and a chance to improve their quality of life during one of the most expensive rental markets the region has experienced.”