The Metro @ Chinatown Senior Lofts
Address: 808 N. Spring St., Los Angeles, CA 90012
Phone Number: (213) 613-1104
Year Completed: 2013
Type: Senior | Units: 123
Management: Western Seniors Housing, Inc.
Partners/Lenders:
- Bank of America
- City of Los Angeles’ HUD Neighborhood Stabilization program
- State of California’s Department of Housing and Community Development’s Transit-Oriented Development Program
- Federal Home Loan Bank Affordable Housing Program
- California Community Reinvestment Corporation (CCRC)
- Western Community Housing
- California Tax Credit Allocation Committee (CTCAC)
- California Debt Limit Allocation Committee (CDLAC)
The Metro @ Chinatown Senior Lofts provided Meta Housing Corporation with the unique opportunity to transform a blighted and vacant Los Angeles office building into a transit-oriented, 123-unit affordable senior apartment property in the heart of Los Angeles Chinatown area.
The result of this adaptive redevelopment is a modern senior housing community consisting of two integrated structures, including a seven-story building constructed in the 1920’s, and a nine-story building constructed in 1916.
The multifamily property provides seniors ages 55+ with affordable, amenity-rich housing in close proximity to public transportation. The property is adjacent to the Los Angeles County Metro’s Gold Line, and is steps away from the Chinatown Station, which also serves as a hub for several bus stops.
As one of Meta Housing Corporation’s transit-oriented developments, The Metro @ Chinatown Senior Lofts gives residents the opportunity to enjoy completely walkable neighborhoods with easy access to public transportation options.
To develop this project, Meta Housing worked closely with Western Community Housing, which served as the co-developer and managing general partner on the project. In addition, Bank of America served as a strong partner throughout the entire development process, providing both debt and equity for the project, as well as playing an integral role in negotiating the disposition of property in September of 2011.