LOS ANGELES, CA – Meta Housing Corporation has secured the
financing necessary to break ground on three new multifamily developments in
Los Angeles County, totaling 160 units, including two affordable senior
apartment communities and one affordable family apartment community.
 |
| John Huskey |
The project cost for all three communities will total $52.5
million, according to Meta Housing President John Huskey.
“The need for
affordable housing continues to grow throughout the nation, and is especially
prevalent in metro areas such as Los Angeles and Long Beach,” explained
Huskey.
“Despite the dissolution of the redevelopment agencies,
which substantially affected the way in which affordable projects can be
financed, we have succeeded in discovering new ways to finance our affordable
family and senior communities.”
Huskey continued, “We have been successful in securing tax
credits for every project that we have developed. These credits have assisted us in developing dozens of successful
affordable housing projects.”
The three latest developments for which Meta Housing secured
tax credits include:
· Metro @
Compton - planned as a 75-unit, $19.5 million affordable senior apartment
community located at 302 N. Tamarand in the city of Compton, Calif.
· Cabrillo
Family Apartments - planned as a 44-unit, $18 million affordable family
apartment community located at1640 Cabrillo Avenue in the City of Torrance,
Calif.
· Long
Beach & 21st Apartments - planned as a 41-unit, $15 million affordable
senior housing community located at 2114 Long Beach Boulevard in the City of
Long Beach.
Each of these new
projects will break ground within the next five months, bringing Meta Housing
Corporation’s current portfolio of projects under development to seven. The company also has 14 other projects in
the pre-development phase.
“We are actively pursuing new projects throughout
California, with an emphasis on urban markets and dense suburban markets, in
order to continue to build apartment communities that deliver pride and
satisfaction to the Cities we serve, and the partners with whom we work,” said
Huskey.
Since 1993, Meta Housing Corporation has established itself
as one of Southern California’s most experienced and trusted developers of
apartment communities for families and seniors, developing more than 5,000
residential units.
For a complete copy of the company’s news release, please
contact:
Corynne Randel/Jenn Quader
Brower, Miller & Cole
(949) 955-7940
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