A rendering of the now complete Ramona Apartment complex. Rendering courtesy of the City of Long Beach.
Low-income seniors will have more living options in Long Beach starting today as the City of Long Beach celebrated the grand opening of Ramona Park Apartments.
The two-story, 61-unit rental complex is situated at 3290 E. Artesia Blvd., replacing the former Farmers and Merchants Bank Building.
“Sustainable housing developments such as Ramona Park Apartments celebrate the multigenerational diversity of our City and further promote a network of strong, viable communities,” said Mayor Robert Garcia in a statement. “This development is a great illustration of the City’s commitment to providing modern, safe, and affordable living options for all Long Beach residents.”
The complex includes sitting/reading areas, a swimming pool, outdoor fireplace, laundry facilities and a clubhouse with a kitchen, library, gym, computer room and entertainment space. It also has 49 one-bedroom units with rents below $800 a month and 11 two-bedroom units with rents under $900.
The $22M development was paid for in combination by Federal Low Income Housing Tax Credit equity, Federal Tax-Exempt Bonds, and loans from Farmers & Merchants Bank, Citibank, California Community Reinvestment Corporation, and The Long Beach Community Investment Company.
For more information, including possible rentals, visit click here.