Meta Housing Begins Work on Long Beach Affordable Housing
- Jun 03, 2014
Long Beach, Calif.—Meta Housing Corp. has broken ground on Long Beach & 21st Apartments, a 41-unit affordable housing property for seniors aged 55 and over. The development is at 2114 Long Beach Blvd. in Long Beach, and will include one- and two-bedroom units in a four-story building slated for completion in 2015.
The property will feature a number of services for residents, including assistance with employment, money management, and educational services, as well as support in obtaining health and dental care. The services will be provided by Meta Housing’s development partner on the project, PATH Ventures.
The Los Angeles County Department of Mental Health and the California Housing Finance Agency served as the catalysts for the development by providing financing through their jointly administered Mental Health Services Act Housing Program. The program offers both permanent financing and capitalized operating subsidies for the development of permanent supportive housing for persons with serious mental illness and their families who are homeless or at risk of homelessness.
Bank of America provided construction financing and equity for Long Beach & 21st Apartments. Other sources of funding for the project include the Housing Authority of the City of Long Beach, the California Tax Credit Allocation Committee, California Community Reinvestment Corporation and the Federal Home Loan Bank of San Francisco.
Developed as a sister property to Meta Housing’s existing Long Beach & Burnett Apartments property, the new development will be designed by PSL Architects. It will be LEED Silver, with common areas built to encourage resident interaction and overall well being.