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| Park Landing Apartment Homes, 8850 La Palma Avenue, Buena Park, CA |
BUENA PARK, CA – WNC, a national investor in real estate and
community development initiatives, announced today the completion of Park
Landing Apartment Homes, a 70-unit, four-story affordable housing project
in Buena Park, Calif.
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| Laura Archuleta |
WNC provided $7.5 million in low-income housing tax credit
(LIHTC) equity to fund the energy efficient project, which is believed to be
the first in Orange County to incorporate a substantial sustainable “green
roof,” totaling approximately 20,000 square feet.
With a total project cost of $22 million, Park Landing
Apartment Homes is located at 8850 La Palma Ave. and was developed in partnership
with Jamboree Housing Corporation.
The garden-style community offers a mix of
one-, two- and three-bedroom units and is available to working families earning
between 30 percent and 60 percent of the area’s median income level.
Property amenities include: an outdoor patio area;
children’s play area with an Imagination Playground containing moveable
building pieces to promote cognitive and social abilities; barbeque and picnic
areas; and a basketball court. Residents are also able to enjoy a community
center, fitness room, tutoring and computer lab, kitchen and laundry
facilities.
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| Gregory Hand |
“WNC is proud to have participated in the development of
Park Landing Apartment Homes, which is nothing short of revolutionary for the
Orange County area,” said WNC’s Gregory Hand, Senior Vice President,
Underwriting.
“Great care was taken to ensure that what was previously an urban
infill site would become an exceptional affordable and sustainable community
that improves the lives of its residents and the entire county.”
Park Landing Apartment Homes utilizes a 20,000-square-foot
“green roof” that covers its 142-space asphalt parking area to promote
biodiversity and carbon sequestration, which facilitates the absorption of
carbon dioxide by nearby green plants.
The green roof will reduce the so-called
“heat island effect” generated by the asphalt of an open parking area, as well
as capture, reduce and filter storm water runoff to be used throughout the
property.
For a complete
copy of the company’s news release, please contact:
Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703 – direct
509.338.5676 – mobile
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