LINC Housing Delivers Affordable LA County Property
CVS Health provided tax credit equity for the project.
LINC Housing has opened Equa, an 81-unit affordable housing community in La Puente, Calif., in Los Angeles County. D33 Design and Planning provided architecture services and National CORE served as general contractor.
The project was subject to a $7.7 million construction loan self-funded by the developer and $37 million in bonds originated by the Los Angeles County Development Authority with MUFG Bank as a trustee, according to Yardi Matrix data. Additionally, LACDA provided $5 million in No Place Like Home funds, the development also benefiting from permanent loans from Union Bank and tax credit equity from CVS Health and Raymond James Tax Credit Funds.
Elsewhere in L.A. county, LINC Housing broke ground last month on a $168 million affordable housing development in Glendale.
A supportive community in Los Angeles County
The six-story building comprises one-, two- and three-bedroom floorplans ranging from 620 to 1,221 square feet. Of the total units, 34 are reserved for individuals who have experienced homelessness while the rest are for tenants earning at or below thresholds between 30 and 70 percent of the area median income. Residents also have access to a wide array of supportive services including employment counseling, mental and physical health assistance, money management and substance use counseling, as well as after-school programs.
Located at 162 S. Third Ave., in the Avocado Heights neighborhood, the community is close to Highway 60 and Interstate 605, roughly 18 miles east of Los Angeles. It is also near the Kaiser Permanente Baldwin Park Medical Center and the Emanate Health Queen of the Valley Hospital. There are some shopping and dining options in the property’s vicinity, as well as along the nearby North Hacienda Boulevard.