Record Investment Supports 583 New Southern California Homes
In 2020, Enterprise Housing Credit Investments (EHCI) had a record year in Southern California, investing more than $127 million in housing tax credit equity in eight developments. The investments support the new construction of 583 affordable homes for families, seniors, formerly homeless residents and people with disabilities in Los Angeles and Ventura counties.
Adams Terrace, located in West Adams neighborhood of Los Angeles, will provide 86 service-enhanced affordable homes to seniors and formerly homeless/at-risk homeless seniors. Developed by Abode Communities, Adams Terrace has convenient access to a number of community amenities and is close to the Expo Crenshaw station.
Berendo Sage will provide 42 affordable homes in the Pico-Union area. Developed by West Hollywood Community Housing Corporation, Berendo Sage will be a mix of one-, two- and three-bedroom apartments, with 21 set aside for formerly homeless individuals and families.
Firmin Court, developed by Decro Corporation & Innovative Housing Opportunities, is 64 affordable apartments, including 45 set aside for chronically homeless individuals. In addition to the housing credit equity, Enterprise provided two predevelopment loans through the New Generation Fund and EHCI.
The Ingraham Apartments, developed by Single Room Occupancy Housing Corporation, will provide 121 affordable homes to chronically homeless individuals, homeless veterans and formerly homeless people with physical and mental disabilities. Each unit has private kitchens and bathrooms, and the development features indoor and outdoor recreation and lounge spaces.
Isla Intersections will provide 54 new one-bedroom units for formerly homeless Angelenos, with 10 set aside for veterans. Developed by Clifford Beers Housing, Inc. & American Family Housing, Isla will utilize an innovative construction method using shipping containers, with the community opening to a shared street and public space called the Annenberg Paseo.
Mountain View Apartments will provide 77 new affordable homes in the Ventura County town of Fillmore. Developed by Many Mansions and the Area Housing Authority of Ventura County, Mountain View will include on-site library services In partnership with the Ventura County Library System, playgrounds and community gardens.
Westview Village Phase III, co-developed by the Housing Authority of the City of San Buenaventura & BRIDGE Housing, brings 105 one- to four-bedroom apartments to Ventura. It is the final phase of the redevelopment of Westview Village, transforming the site of 180 public housing units into 320 newly constructed affordable homes.
Whittier Place Apartments Phase II, developed by East LA Community Corporation, is new construction of 34 affordable homes for formerly homeless veterans and individuals. In addition to housing credit equity, Whittier Place phase II was also supported through a predevelopment loan from Enterprise.
Rendering of Mountain View Apartments in Fillmore, California.