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El Dorado Family Apartments

12129 El Dorado Avenue, Sylmar, CA 91342
(818) 367-6602
Year Completed: 2008
Type: Family | Units: 60
Management: Solari Enterprises, Inc.

Partner/Lenders:

  • Western Community Housing
  • Wells Fargo Bank
  • California Community Reinvestment Corporation
  • SunAmerica
  • CRA/LA
  • Los Angeles Housing Department
  • California Tax Credit Allocation Committee (CTCAC)

El Dorado Family Apartments is a multifamily community completed in 2008, which offers affordable family apartments to residents of the San Fernando Valley.

The land for this development was initially entitled for for-sale condominiums, but the project had been stalled due to the economic downturn.  Meta Housing acquired the land in 2006, and presented a solution that would revive the development:  convert the product to affordable family rentals.

The Meta Housing team worked to re-entitle the land, and to develop a 60-unit multifamily property which features affordable family apartments.  Residents have access to a host of free services to help enhance their lives, including after-school tutoring, continuing education opportunities, and job training and placement services.

This project was funded with 9% tax credits, as well as funds from the Community Redevelopment Agency of Los Angeles and financing from the Los Angeles Housing Department.