City to Apply for Over $17 Million in State Funds for Veteran and Senior Affordable Housing

The Long Beach City Council has authorized the city and a developer, Century Housing Corporation (Century), to jointly apply for up to $17,723,734 in state funding to go toward affordable housing for lower-income seniors and veterans, according to the announcement released Friday.

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S P O N S O R

“I want to thank the Council for moving forward with this important initiative,” said Mayor Robert Garcia in a statement. “The City must remain committed to increasing affordable housing options, especially for vulnerable populations like seniors and veterans.”

Proposed for 1201 to 1235 Long Beach Boulevard along the northern edge of downtown, the Beacon Apartments would include 121 one- and two- bedroom rental units slated to serve extremely low to low-income seniors older than 62 years of age. A 39-unit supportive housing building would serve extremely low-income veterans who are homeless or at risk of becoming homeless.

Plans for the development also include a community room with a full kitchen, supportive services room, media room, bike storage area, laundry rooms, computer rooms, an on-site gym and about 7,000 square feet of retail space for eateries and public service offices, according to the release.

“Beacon Apartments will enhance the lives of the most vulnerable residents in our community,” said Councilwoman Lena Gonzalez in a statement. “More than impacting individual families, affordable housing developments such as Beacon Apartments benefit the entire community by promoting quality housing and livability throughout our neighborhoods.”

The development would be located near the recently announced Transit-Oriented Development and located close to the Metro Blue Line light rail service, as well as bus lines along both Long Beach Boulevard and East Anaheim Street.


 

In November 2015, more than $12 million in funding for the development was approved by the Long Beach Community Investment Company (LBCIC), according to the release.

“The LBCIC is proud to invest in Beacon Apartments, a development that will help to fill a critical need for affordable housing, while also removing blight and supporting our goals of neighborhood revitalization,” said LBCIC Chair John Thomas in a statement.

Century is partnering with the city to secure the remaining financing, a combination of Low-Income Housing Tax Credits and Affordable Housing and Sustainable Communities Program (AHSC) funds available from the California Department of Housing and Community Development (HCD), according to the release.

Dependent on state funding, the groundbreaking for the Beacon Apartments is scheduled for late 2017.

For more information on the city’s affordable housing and assistance programs, click here.  

 



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