Affordable housing for at risk Seniors in the County of Los Angeles breaks ground
- S&P 500 hits 2023 closing high as Powell strengthens peak rate bets
- Santa will continue to deliver - Stock Trader's Almanac
- 5 Tesla analysts weigh in as Tesla stock lags after Cybertruck updates
- Shares climb, dollar falls with Fed comments inspiring dovish bets
- Ulta Beauty lifts guidance after Q3 results beat estimates
LOS ANGELES (PRWEB) January 24, 2022
Affirmed Housing, a leading provider of affordable housing throughout California, announces the groundbreaking of The Remi; a six-story development offering 92 studio and one bedroom apartment homes for low income and formerly homeless seniors in Los Angeles County. Located at 1216 Nadeau Street, the new community is scheduled to be complete in the Summer of 2024.
"The Remi marks Affirmed's 10th affordable housing development in the County of Los Angeles. We are proud to serve and house LA County's most vulnerable citizens, Seniors, during the pandemic. We thank our continued and new relationships amongst financial and development organizations that allow us to promptly secure necessary funding to begin construction on critical housing projects such as this one." Jimmy Silverwood, Executive Vice President, Affirmed Housing.
Currently a vacant, underutilized property, the Remi is located in a central location and will offer much needed affordable housing for Seniors living in the county of Los Angeles. Designed by Withee Malcolm Architects, the Remi is in proximity to several off-site amenities, such as transit, retail, dining, and grocery stores. The property will offer residents enhanced livability in a place designed to seamlessly integrate into the surrounding neighborhood.
On-site, supportive services will be offered by The People Concern and Engage. Service amenities and social activities will include classes such as adult education, health and wellness, lifelong learning, art and creativity, community building and more. Resident amenities include common areas for large gatherings and technology stations, the roof terrace on the second floor will feature open and shaded areas for residents to relax and take-in the surrounding city views.
Emilio Salas, LACDA Executive Director, said, "According to the 2020 Los Angeles County Older Adults: Housing Needs Report, issued by the California Housing Partnership, three out of four older adult renter households that earn less than 15% of the area median income spend more than half their income on housing. The start of construction for The Remi is a step closer to assisting Los Angeles County seniors with this heavy burden and the LACDA is a proud partner is this effort."
Leveraging Affirmed's strengths, the development involved community engagement and complex financing and permitting expertise. Affirmed, alongside various development funding partners, including the County of Los Angeles, was able to skillfully manage various funding on the same timeline to move the project forward. The Remi is funded by a diverse group of stake holders including Capital One, Red Stone Equity Partners, The County of Los Angeles, CTCAC and Century Housing.
About Affirmed Housing
Affirmed Housing is a leader in affordable, multifamily housing development, delivering safe, sustainable, high-quality communities for families, veterans, seniors and people experiencing homelessness. The company works with municipalities and private owners throughout the state to promote housing stability and neighborhood well-being by leveraging deep expertise in public finance, low-income housing tax credits, and tax-exempt bond finance, as well as site selection, engineering, architecture, construction, relocation and marketing. Since 1992, Affirmed Housing has secured more than $2 billion in total financing to successfully complete 60 communities and house more than 10,000 vulnerable residents. To learn more, visit http://www.affirmedhousing.com
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Perceiv AI to attend J.P. Morgan Healthcare Conference and AD/PD in Q1 2024
- Bitget To List Carbon Browser (CSIX) in Spot Market and Innovation Zone
- Unplugged Performance Introduces UP INVINCIBLE®: A Game-Changer for Tesla Cybertruck Enthusiasts
Create E-mail Alert Related CategoriesPress Releases
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!