Emerald Terrace Apartments
Address: 1345 W. Emerald Drive, Los Angeles, CA 90026
Phone Number: (213) 977-1325
Year Completed: 2007
Type: Family | Units: 85
Management: Solari Enterprises, Inc.
Partner/Lenders:
- Wells Fargo Bank
- California Community Reinvestment Corporation (CCRC)
- Apollo Housing Capital
- Los Angeles Housing Department
- Century Housing Corporation
- California Tax Credit Allocation Committee (CTCAC)
Meta Housing Corporation developed Emerald Terrace Apartments as part of the revitalization of an entire neighborhood in downtown Los Angeles. The apartment community, which offers affordable housing to Los Angeles families, is adjacent to the Miguel Contreras Learning Complex – a brand new high school at the time.
The development site was a formerly blighted area with some existing housing in very poor condition. Meta Housing removed the rundown buildings and developed Emerald Terrace Apartments from the ground up.
Meta Housing also partnered with the Neighborhood Youth Association to bring free, life-enhancing services to community residents. Families living in the Emerald Terrace Apartments have access to free after-school tutoring, as well as scholarships through which many young residents have had the opportunity to attend excellent colleges and universities.
The project was financed with 9% tax credits, as well as funding from the Los Angeles Housing Department.