Long Beach, Calif.— Long Beach Senior Arts Colony, a development of Meta Housing Corp., has been completed. The property is a new-construction TOD with 200 units designed to provide affordable housing for seniors.
The development has a number of unusual amenities, in that it’s focused on creating an “artistic environment,” as Meta Housing puts it. Namely, there’s an art gallery, 99-seat performance theater, working arts and dance studios, as well as a digital media room and grand piano salon. On-site arts classes are offered at no cost to residents, conducted by Meta Housing’s nonprofit partner, EngAGE.
The concept isn’t quite new, since Meta Housing developed the 141-unit Burbank Senior Artists Colony in 2006, as well as the 126-unit North Hollywood Senior Arts Colony in 2012. According to recent gerontological research cited by the developer, the arts can positively impact the health of older individuals. In addition to its arts-focused amenities, the property provides over 15,000 square feet of community space, including a fitness room, yoga/meditation room, computer room, game room, dog park, community gardens and seating area with a fireplace.
As a TOD, the project’s location will provide residents with access to public transportation, especially Long Beach’s light rail line. It’s also close to a number of bus stops.
Meta partnered with Century Housing Corp. on this development, with Century as the managing general partner, providing the acquisition financing for the development site. The City of Long Beach and the State of California both provided construction and permanent financing to the project, and the state provided a loan through Prop 1C Infill Infrastructure Grant and Transit Oriented Development programs. In addition, the project was financed with 9 percent and 4 percent tax credits that were purchased by Wells Fargo Bank and tax-exempts bonds that were purchased by Wells Fargo Bank and CCRC.