Project Description
El Dorado Family Apartments
Address: 12129 El Dorado Avenue, Sylmar, CA 91342
Phonee Number: (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.