LOS ANGELES-Meta Housing Corp. has secured 9% in tax credits to finance the development of three new affordable housing properties in Los Angeles County. The three properties are expected to cost $52.5 million and will total 160 units. Two of the properties will target seniors while the third will target families.

“The need for affordable housing continues to grow throughout the nation, and is especially prevalent in metro areas such as Los Angeles and Long Beach,” says John Huskey, Meta Housing president. “Despite the dissolution of the redevelopment agencies, which substantially affected the way in which affordable projects can be financed, we have succeeded in discovering new ways to finance our affordable family and senior communities. We have been successful in securing tax credits for every project that we have developed. These credits have assisted us in developing dozens of successful affordable housing projects.”

Metro at Compton and Long Beach & 21st Apartments are the two senior housing communities. The 75-unit Metro at Compton will cost $19.5 million while the 41-unit Long Beach & 21st Apartments will cost $15 million. The final $18 million will go to the 44-unit family community, Cabrillo Family Apartments. All three projects will begin construction in the next five months.

A recent UCLA Anderson report revealed a growing need for affordable housing in Los Angeles County. The report found that affordable housing developments in public transit corridors offered the best opportunities for affordable developments because they offered residents a way to commute to work.

Instant Insights /

Meta Housing Corp. Secures Financing for Affordable MF Builds

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