TO Approves 297-Unit Housing Project

The plan includes 25 deed-restricted affordable rental units.

July 10, 2026 · Thousand Oaks

A mixed-use development with 297 residential units is set for construction on E. Hillcrest Dr. in Thousand Oaks after the city's Planning Commission approved the project, the [Ventura County Star](https://www.vcstar.com/story/news/local/communities/conejo-valley/2026/07/07/thousand-oaks-housing-development-hillcrest-drive/90774769007/) is reporting.

Commissioners voted 5-0 last month to approve the plan, which calls for demolishing an existing two-building office complex to make way for a five-story apartment building and an internal five-level parking structure. A standalone commercial building on the site will be preserved and remodeled for retail and restaurant use.

The project includes 25 units reserved for lower-income households, according to a city staff report. The apartment building will feature 39 studios, 146 one-bedroom units, 102 two-bedroom units and 10 three-bedroom units.

Developer Trammell Crow Co. sought a density bonus under state law, which incentivizes affordable housing by allowing higher unit counts. A representative for the developer said the plan would replace underutilized office space with high-quality housing, and preserve 44 of the site's 61 protected trees.

The office buildings were 32% leased to 16 tenants, all on month-to-month leases or with termination options, the developer said. Those tenants will be notified at least 30 days before construction begins.

No members of the public spoke against the project, and no appeals were filed by the June deadline, a city planner said. Construction is expected to begin in early 2027 and finish in 2029.