Photo by Asia Morris.
Low-income seniors, lower-income veterans with special needs, as well as veterans experiencing homelessness may be able to move into The Beacon by late 2019, a supportive housing development being built on the corner of Long Beach Boulevard and Anaheim Street.
Today, the City of Long Beach, in partnership with the Long Beach Community Investment Company (LBCIC) and Century Housing Corporation, celebrated the groundbreaking of The Beacon, which will include two buildings with 160 units of affordable housing. The buildings will mark the completion of the final phase of the site development, that includes the adjacent 161-unit Long Beach Senior Arts Colony and the 39-unit Annex.
Those who benefit from the expanded housing options will also be able to use comprehensive supportive services that will connect residents to job centers and amenities helping them achieve and maintain independence, said Ronald Griffith, CEO of Century Housing, which finances affordable housing developments in California, including the Century Villages at Cabrillo.
Located at 1235 Long Beach Boulevard, the development includes two buildings: the seven-story Beacon Pointe which will have 120 units reserved for low-income seniors and the five-story Beacon Place which will provide 38 units for lower-income veterans with special needs and homeless veterans or veterans at risk of experiencing homelessness. The development is oriented across the street from the Metro Blue Line light rail and bus lines that operate along both Long Beach Boulevard and East Anaheim Street.
“I know that this incredible new space is going to be a great home for so many people in our community, a place where they can be safe, have dignity, where they’re able to be a part of their community, where they can— just across the street— get on mass transit and visit other parts of our beautiful region or take the bus or walk to the grocery store,” Mayor Robert Garcia said during the groundbreaking event. “And so not only is this development and project a great project on its own, but it’s also located in such a great place especially for seniors to be able to enjoy and walk around and get out and feel like they’re part of the community.”
Rendering courtesy of the City of Long Beach.
“The Beacon is an important part of the significant efforts the City and Century Housing have made towards providing housing for the most vulnerable residents in our community,” Councilwoman Lena Gonzalez said in a statement. “This development will activate a key site along the northern edge of Downtown, while enhancing a major transit oriented corridor in the First District.”
In January, the LBCIC approved more than $12 million in funding for the development.
“The LBCIC is committed to investing our resources to developments that fill the vital need for additional affordable housing,” LBCIC Chair John Thomas said in a statement.. “This project will enhance the strong network of neighborhoods that promote a thriving Long Beach.”
The Beacon is one of five developments to use new state certificated low-income housing tax credits (LIHTCs) in California under a three-year pilot program. Rents will be subsidized through project-based Section 8 Vouchers for all 158 restricted units, which will provide approximately $822,000 annually, according to the city.
“Beacon Place and Beacon Pointe represent an extension of our 20 years of work in West Long Beach at Century Village at Cabrillo,” Oscar Alvarado, director of Housing Development for Century Housing, said in a statement. “For us, this is a departure in location only, pursued with the same passion and attention to the mission that is at the core of all of our work.”
Funding for The Beacon includes:
- A loan from The LBCIC.
- A Veterans Housing and Homelessness Prevention Program (VHHP) loan through CalVet and the California Department of Housing and Community Development (HCD).
- Two Affordable Housing Program (AHP) loans through the Federal Home Loan Bank.
- A grant from the Home Depot Foundation.
- Construction financing from Wells Fargo Bank.
- A permanent loan from the California Community Reinvestment Corporation (CCRC).
- An equity investment by Wells Fargo through an allocation of tax credits from the California Tax Credit Allocation Committee (CTCAC).
The Beacon will be located at 1235 Long Beach Boulevard.