By Jessica Fiur, New Editor
Panorama City, Calif.—AMCAL Multi-Housing, an Agoura Hills, Calif.-based developer of affordable and workforce housing, recently announced the grand opening of their Montecito Terraces community, an affordable housing development for low-income seniors in the San Fernando Valley.
Montecito Terraces include two buildings located across the street from one another—part of the revitalization of Blythe Street. One of the buildings offers 29 units, and the other has 69 units. In total, there are 78 one-bedroom units and 20 two-bedroom units available. Additionally the community has earned LEED Gold certification.
Amenities include a courtyard, pool for physical therapy lessons, garden terraces and community rooms.
Residents of Montecito Terraces will have access to complimentary social services provided by LifeSTEPS. These include computer training, education, legal referrals and health and nutrition programs.
Montecito Terraces was finances with an allocation of over $13.3 million in 9 percent Low Income Housing Tax Credits in 2009 and a combination of public funding sources, including the Proposition 1C Infill Infrastructure Grant fund, American Recovery Reinvestment Act federal stimulus fund, MHSA funds, AHP funds from the Federal Home Load Bank—San Francisco, the Los Angeles Housing Department and the Community Redevelopment Agency of the City of Los Angeles.
“This is a very big deal,” Zev Yaroslavsky, supervisor, County of Los Angeles said in a press statement. “When you change the course and trajectory of somebody’s life by providing them permanent, supportive housing, you’ve done a great deed—and with a 98-unit building, it’s a win-win for our County and society as a whole.”