Project Description
Belmont Station Apartments
Address: 1302 W. 2nd Street, Los Angeles, CA 90026
Phone Number: (866) 271-9251
Year Completed: 2008
Type: Family | Units: 276
Management: Essex Property Trust
Website: www.essexapartmenthomes.com
Partners/Lenders:
- Western Community Housing
- Bank of America
- Essex Property Trust
- California Tax Credit Allocation Committee (CTCAC)
The first mixed-income family community developed by Meta Housing Corporation, Belmont Station Apartments combines rich history with modern design. The result is a 276-unit multifamily community that has played an integral role in the transformation of an entire neighborhood block.
The property, which was formerly a metro switching station, featured an historic tunnel through which the red car line once ran underground. The site had been blighted for more than 30 years, however, and Meta Housing Corporation worked closely with the City of Los Angeles to bring this new project to life.
Meta Housing retained the property’s historic structure and created a mural where the tunnel once was. Today, residents enjoy an after-school tutoring program, available to youth and teens at no charge.
Meta Housing utilized tax credits and tax-exempt bonds, as well as traditional equity from Essex Investment Management in order to develop this project.