Meta Housing Corp. Announces Completion of $$43 Million Transit-Oriented Multifamily Redevelopment in Los Angeles’ Chinatown

 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