The Casa de Angeles complex features 23 two-bedroom units, 14three-bedroom units and 12 four-bedroom units, along with commonarea amenities that include a large courtyard with open space and acommunity room. Financing for the project included $10.1 million in9% low-income housing tax credits. The overall financing packagecomprised equity, construction and permanent loans totaling $24.9million by SunAmerica Affordable Housing Partners, California Bank& Trust and the Los Angeles Housing Department.

Amcal developed the complex in a venture with its nonprofitpartner, Women Organizing Resources, Knowledge and Services. Thebuilding was designed by Van Tilburg, Banvard & Soderbergh,with Amcal General Contractors as the general contractor.

Percival Vaz, president and CEO of Amcal, notes that Casa deAngeles will provide free social service programs to residentsincluding after school programs and educational classes. The newapartment complex is Amcal's third project to open in South LosAngeles, following the 49-unit Casa Figueroa at 78th and Figueroastreets and the Las Brisas complex at 88th and Main streets.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.