Nonprofit Breaks Ground on Affordable LA Project
- Mar 29, 2019
Nonprofit Clifford Beers Housing has begun work on Vistas del Puerto Apartments, a 47-unit community in Long Beach, Calif. KFA Architecture designed the affordable housing project, which is set to serve households earning between 30 and 50 percent of the area’s median income. Half of the apartments are set aside for those with chronic health conditions who have experienced homelessness, while the other half will accommodate large families.
Located at 1850 Locust Ave., Vistas del Puerto will be close to a grocery store, a pharmacy, schools, a public library and a medical clinic. A bus stop and a metro station are also nearby. The site is also proximate to Mental Health America’s Homeless Healthcare Center. The community is slated to feature large community spaces, on-site parking, pedestrian entry, support services, bike storage, community room with kitchen, heating and air conditioning.
Dreyfuss Construction, Levine Management Group and Mental Health America of Los Angeles are also part of the development team. Genesis LA, Corp. for Supportive Housing, Wells Fargo Bank, Community Development Commission of the County of L.A., Long Beach Community Investment Corp., California Community Reinvestment Corp., Los Angeles Department of Health Services and Brilliant Corners provided financial support for the project.
According to the latest Yardi Matrix report, the affordable housing crisis in Los Angeles is getting worse. Single-family home prices have risen to their highest value over the last decade. The tight multifamily market is rapidly absorbing new supply while giving property owners leverage to lift rents.
Image courtesy of KFA Architecture