Figueroa Senior Apartments
Address: 7621 South Figueroa St., Los Angeles, CA 90003
Phone Number: (323) 750-2000
Year Completed: 2012
Type: Senior | Units: 35
Management: Western Seniors Housing, Inc.
Property Website: figueroaseniorapts.com
Partners/Lenders:
- California Tax Credit Allocation Committee (CTCAC)
- California Debt Limit Allocation Committee (CDLAC)
- Los Angeles Housing Department (LAHD)
- City of Los Angeles Redevelopment Agency
- JP Morgan Chase
- California Community Reinvestment Corporation (CCRC)
- Western Community Housing
- The Richman Group
Figueroa Senior Apartments is the first project in the City of Los Angeles to be awarded a Federal Neighborhood Stabilization Program (NSP) grant. Part of the Housing Economic Recovery Act, the NSP was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment.
Through this program, Meta Housing Corporation worked closely with the Los Angeles Housing Department in order to successfully develop this fully affordable, 35-unit multifamily property for seniors.
The property, which is beautifully designed, will bring an upscale, modern look and feel to the surrounding neighborhood, and will also offer life-enhancing services and classes to its residents.
In addition to NSP funds, the project was financed with 4% tax credits and tax-exempt bonds.