Ground Breaks on Unique Affordable Seniors Project in South L.A.
- Jun 22, 2010
Compton, Calif.–Demand among seniors for affordable housing is as strong as ever and LINC Housing Corp. is preparing to assist the underserved population in Compton, Calif., with the development of the Seasons at Compton. The Long Beach, Calif.-based nonprofit developer recently broke ground on the 84-unit apartment community, which is designed to accommodate not only limited-income seniors, but financially challenged elderly residents with physical disabilities and individuals who are caretakers of such residents as well.
Seasons will feature one- and two-bedroom apartment units consisting of 614 to 752 square feet. The property will also feature a community center encompassing meeting space, computer class facilities, a laundry facility and management offices. Monrovia, Calif.-based Nardi Associates L.L.P. is behind the project’s architecture. The firm has designed the property to provide easy access and function for physically challenged residents. Special accommodations include wider doorways and hallways, adjustable height counters, lower light switches, ramps and elevators. Seasons will also be a green property; LINC has registered the project with the U.S. Green Building Council to attain LEED Gold certification.
“We hear from cities all the time that there is a high demand for affordable housing for seniors, especially in these tough economic times,” Hunter Johnson, President and CEO of LINC Housing, tells MHN. “Most of our senior properties are full with waiting lists of those hoping to get an apartment. And now, we’re hearing more and more about the need for housing for other populations, including seniors with developmental disabilities and seniors caring for dependents with developmental disabilities.”
LINC will spend approximately $25 million to complete Seasons. Speaking to the widespread awareness of the demand for seniors housing–and specifically, seniors housing for the physically challenged–as well as LINC’s prominence as an affordable housing provider, the developer was able to secure financing for the project through 15 sources. Bank of America supplied a construction and permanent loan, and the National Equity Fund came through with tax credit equity. The project also received grants and loans from the County of Los Angeles Community Development Commission, the Compton Redevelopment Agency, the City of Industry, the California Department of Housing and Community Development and the federal American Recovery and Reinvestment Act.
With CMSI/Advent Companies Inc. on board the project as general contractor, Seasons is on track to reach completion within the next 8 to 12 months.