Saturday, February 25, 2017
Meta Housing Corp. Breaks Ground on Two Affordable Apartment communities in Los Angeles, CA Totaling $54 Million
[From Left to Right] Mee Semcken, Consultant; Aaron Mandel, SVP of Meta Housing; Graham Espley-Jones, President of Western Community Housing; Eric Garcetti, Mayor of Los Angeles; Kasey Burke, President of Meta Housing; Roy Faerber, Boston Financial Investment Management; Eugene Lee, Chief of State of California Department of Housing and Community Development; at the recent groundbreaking event for the El Segundo Apartments and 127th Street Apartments.
LOS ANGELES, CA – Meta Housing Corporation has broken ground on two affordable apartment communities in Los Angeles, including 127th Street Apartments, an 85-unit apartment community for homeless or chronically homeless individuals, and El Segundo Boulevard Apartments, a 75-unit apartment community for veterans and their families.
“Homelessness in Los Angeles has drastically increased over the last several years,” says Kasey Burke, President of Meta Housing Corporation. “An estimated 254,000 men, women and children experience homelessness in this city during some part of the year, and ten percent of LA’s homeless population is comprised of U.S. veterans. This is a challenge that must be addressed, and new affordable housing is the right place to start.”
Burke explains that the rising cost of living in Los Angeles and the lack of affordable housing options continues to be a challenge for many local families.
“These new developments will fill a deep void in the community by helping individuals and families end a life on the streets and instead enjoy a safe, quality place to live,” says Burke. “By replacing a blighted vacant lot with high-quality housing that integrates strong supportive services, we are enriching the lives of residents, as well as the local community.”
Financing for the projects was provided by Chase, Boston Financial Investment Management, the California Community Reinvestment Corporation (CCRC), Housing and Community Development (HCD), Department of Mental Health/California Housing Finance Agency (DMH and CalHFA), Los Angeles Housing & Community Investment Department (HCIDLA), Housing Authority of the City of Los Angeles (HACLA), and the Department of Health Services (DHS).
The two apartment communities are being developed side by side between El Segundo Boulevard and 127th Street.
In addition, both communities will feature the latest in green building and sustainable features, according to Aaron Mandel, a Senior Vice President with Meta Housing.
“Sustainability is a primary focus for Meta,” Mandel says. “We continue to identify innovative ways to deliver cost savings while reducing the environmental footprint of our properties.”
Mandel explains that El Segundo Boulevard Apartments will feature storm water filtration planters that clean, treat and recycle all water than lands on the site and building. The community will also boast a cool roof with a high solar reflectance value.
In addition to sustainable features, each of these apartment communities will feature a variety of amenities and community spaces that encourage social interaction and engagement.
“It’s important that our residents don’t just live in our properties, but also thrive there,” says Mandel. “For this reason, we design communities with thoughtful spaces that encourage collaboration, and we offer supportive services that enhance the quality of life of our residents, and the surrounding neighborhood.”
The El Segundo and 127th apartment communities will feature large community spaces including clubhouses, classrooms, and technology centers for educational training. 127th Street Apartments will also feature a large teaching kitchen for cooking classes and communal dining. El Segundo Boulevard Apartments will feature bicycle storage rooms and an outdoor courtyard.
The apartment communities will be located at 550 West 127th Street and 535-611 West El Segundo Boulevard in Los Angeles, California.
For a complete copy of the company’s news release, please contact:
Elisabeth Manville/Lexi Astfalk
Brower, Miller & Cole
Posted by Alex at 12:31 PM