 |
| Los Angeles City Mayor Antonio Villaraigosa at the Ribbon Cutting Ceremony for the New Metro at Chinatown Senior Lofts. |
LOS ANGELES, CA (March 28, 2013) – Meta Housing Corporation
has completed the redevelopment of a blighted, vacant Los Angeles building,
transforming it into a transit-oriented, 123-unit affordable senior housing
property in Los Angeles’ Chinatown.
 |
| The Metro at Chinatown Senior Lofts 808 North Spring Street, Los Angeles, CA |
The Metro at Chinatown Senior Lofts, located at 808
North Spring Street in the city of Los Angeles, was completed with support from
Western Community Housing, the City of Los Angeles, the State of California’s
Department of Housing and Community Development, and Bank of America.
The multifamily property will provide local seniors, aged 55
or older, with affordable, amenity-rich housing in close proximity to public
transportation, according to John Huskey, President of Meta Housing
Corporation.
“As developers, we recognize the need for our residents to
not only live in beautiful buildings, but to enjoy their surroundings with
ease,” explains Huskey.
 |
| John Huskey |
“Through this project, and with the help of these excellent
organizations, we were able to accomplish both of those objectives.
“By redeveloping a vacant downtown building which was
already well-located, we were able to bring new life to this area of the city,
and deliver a project which instills pride in each of the entities that
contributed to its development.”
Western Community Housing served as the co-developer and
managing general partner on the project.
The City of Los Angeles’ HUD Neighborhood Stabilization
contributed $12.6 million to the project, while the State of California’s
Department of Housing and Community Development’s Transit-Oriented Development
Program provided $10.5 million to the development.
In addition, Bank of America provided $33.5 million in
construction financing and Low Income Housing Tax Credits (LIHTC) for the new
Metro at Chinatown.
For a complete copy of the company’s news release, please
contact:
Jenn Quader/ Corynne Randel
Brower, Miller & Cole
JQuader@browermillercole.com
(949) 955-7940
No comments:
Post a Comment