Project Description
Valley Village Senior Apartments
Address: 12111 Chandler Boulevard, North Hollywood, CA 91607
Year Completed: 1996
Type: Senior | Units: 188
Management: Western Seniors Housing, Inc.
Partners/Lenders:
- Wells Fargo Bank
- Home Savings
- California Tax Credit Allocation Committee (CTCAC)
An important project in Meta Housing’s history, Valley Village Senior Apartments was Meta Housing Corporation’s first transit-oriented development. The apartment community is strategically located near various public transportation options. Valley Village Senior Apartments, which offers affordable housing to seniors in North Hollywood, is strategically located directly across the street from the Metro Orange Line transit stop.
The benefit of a transit-oriented development is twofold: Cities benefit from a reduction in traffic congestion and pollution as a result of these communities’ close proximity to public transportation. In addition, residents benefit from a higher quality of life, as they are able to more easily walk to public transport and nearby amenities.
This development also marks Meta Housing’s first use of 9% tax credits for new construction – another strategy that the company has used in many subsequent projects.