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| Monique King-Viehland |
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| Vermont Corridor Apartmnts, 433 S. Vermont Avenue, Koreatown submarket, Los Angeles, CA |
The $51.4 million project will provide affordable housing for seniors aged 62+ earning between 25 and 60 percent of area median income.
Monique King-Viehland, Executive Director of the
Community Development Commission/Housing Authority of the County of Los
Angeles, comments:
“We look forward to the future of the Vermont Corridor
Apartments and its position in the community – a hub that will provide
affordable homes for seniors and special needs residents.
"The addition of the YMCA on the first floor will help to enhance the neighborhood through their commitment to meeting community needs through a strong range of programs.”
"The addition of the YMCA on the first floor will help to enhance the neighborhood through their commitment to meeting community needs through a strong range of programs.”
Meta Housing Corporation and Western Community Housing
will serve as co-developers and general partners on the project. Western
Community Housing will also coordinate resident services, while The
People Concern will coordinate supportive services.
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| Kasey M. Burke |
Vermont Corridor Apartments will be located at 433 S.
Vermont Avenue in Los Angeles, California. The project is expected to be
completed in March 2021.
Of the 72 units to be built at the property, 36 will include
supportive services funded through the County of Los Angeles' voter-approved
Measure H, and subsidized rents for residents experiencing varying levels of
homelessness.
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| Aaron Mandel |
“Affordable senior housing is extremely
difficult to find in Los Angeles,” says Kasey Burke,
President of Meta Housing. “Los Angeles needs
more affordable alternatives for older residents, and we are delivering that
alternative in this project.
"This is a great example
of public private partnership working together to improve the community and the
lives of our future residents.”
In addition, Vermont Corridor Apartments will include a
12,500 square foot community center on the ground-floor dedicated to the YMCA
that will provide community services through its local partnerships and service
offerings.
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| Mark Ridley-Thomas |
“Our partnership with the YMCA provides a cultural
center that will serve as a gathering place for the surrounding neighborhood,”
explains Aaron Mandel, Executive Vice President of Meta Housing. “By offering these services, we are encouraging interaction
and well-being among our future residents and their neighbors.”
Mandel notes that the new development is a reuse of an
underutilized County property that will provide a quality and safe environment
for residents at an affordable cost while reducing blight in the area. The
development will also generate an estimated 321 construction jobs and seven
permanent jobs.
“The Vermont Corridor Apartments project is a promise
fulfilled,” says City of Los Angeles Supervisor Mark Ridley-Thomas. “For
Koreatown residents, it provides not only affordable homes to seniors who need
it most, but also a long-awaited community center with a wellness center to be
operated by the YMCA.
"Working with Meta Housing and Western Community
Housing, as well as the City of Los Angeles and other partners, we have
repurposed an aging Los Angeles County facility and transformed it into a
beautiful new asset for the community. That’s public-private partnership at its
best.”
Vermont Corridor Apartments will feature one- and
two-bedroom floorplans for residents and a two-bedroom manager’s apartment. The
development will offer generous common spaces including open-space courtyards
to encourage interaction among residents, according to Mandel.
CONTACTS:
Micaela Fehrenbach / Lexi Astfalk
Brower Group
(949) 438-6262
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