LINC Breaks Ground on Los Angeles Affordable Project
- Jun 10, 2020
LINC Housing has started construction on Cadence Apartments, a 64-unit community in Los Angeles catering to former homeless families and individuals. Designed by Lahmon Architects and having Walton Construction Inc. as the general contractor, the development is slated for a late 2021 completion.
Located at 11408 S. Central Ave. in the Watts neighborhood, Cadence will encompass 63 one-bedroom floorplans and the manager’s unit. Amenities are to include a community room, computer room and indoor bicycle parking. Additionally, Los Angeles County will provide the necessary funds for resident supportive services such as mental and physical health services, employment counseling and job placement, education, substance abuse counseling and money management, among others.
According to Urbanize Los Angeles, Cadence will cost roughly $36 million. Since its inception, the project received various types of financing: construction and permanent loans from Bank of America; $10.1 million in HHH Funds managed by the Housing + Community Investment Department of the City of Los Angeles (HCIDLA); $7.1 million from the Los Angeles County Development Authority (No Place Like Home funds); and tax credit equity from Raymond James.
In addition, Cadence will receive rental subsidy from the Housing Authority of the City of Los Angeles. The California Endowment provided predevelopment support.
The 0.7-acre development site is roughly 13 miles south of downtown Los Angeles, one block north of Interstate 105 and 2 miles from a 700-unit public housing redevelopment. The immediate area holds numerous schools and churches. Magic Johnson Park and Martin Luther King Jr. Community Hospital are also nearby.