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| Michael Gaber |
LONG BEACH, CA – WNC, a national investor in real estate and
community development initiatives, announced the completion of Ramona Park
Senior Apartments, a 61-unit affordable senior housing community in Long
Beach, Calif.
WNC provided $6.9 million in low-income housing tax credit
(LIHTC) equity to fund the project, which demolished a vacant former bank in
order to develop the affordable housing.
Located at 3290 E.
Artesia Blvd., the three-story building includes 49 one-bedroom units and 11
two-bedroom units offered to seniors aged 55 and above with household incomes
of up to 60 percent of the area median income. The ground floor of the
structure serves as a parking garage.
The property was
developed by DL Horn & Associates LLC, in association with WCH Affordable
IV LLC and PC Long Beach Developers LLC.
“The creative reuse
of this space was a collaborative effort involving input from neighborhood
community members and the City of Long Beach Planning Department,” said WNC
Executive Vice President and Chief Operating Officer Michael Gaber.
“Ramona Park enhances the local area, and provides seniors with numerous
recreational and unit amenities within a comfortable place to call home.”
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| Rendering of Ramona Park Senior Apartments Long Beach, CA |
Property amenities
of Ramona Park include: a community room, passive seating and reading areas,
swimming pool, oversized outdoor fireplace, business center, kitchen, library,
gym, dining area, tenant storage, common laundry facility, social services,
public restrooms and on-site management.
Each unit is equipped with an electric
range and oven, window blinds, refrigerator, central heat/air conditioning,
garbage disposal, dishwasher and patio or balcony.
For a complete copy of the company’s news
release, please contact:
Julie Leber
Account Manager
Spotlight Marketing Communications
18101 Von Karman Avenue, Suite 330
Irvine CA 92612
949-427-5172, ext. 703
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