Long Beach, CA – November 11, 2008 – (RealEstateRama) — The City of Long Beach, through its nonprofit Long Beach Housing Development Company, is moving forward with plans to acquire the final property for the development of a new affordable housing development in the 1900 block of Long Beach Boulevard. This is immediately adjacent to the newly constructed Olive Villas mixed-income community, another affordable housing development created this past year by the City.
Long Beach plans to acquire almost 1 acre of land and spend approximately $3 million of redevelopment funds required by state law to be spent on affordable housing. Although plans still need to be formulated, the development will be a mixed income, for- sale housing development. The units will include both affordable and market-rate units, helping the City meet its regional housing needs assessment allocations designated by the Southern California Association of Governments.
The area targets perhaps some of the most blighted and crime impacted areas on Long Beach Boulevard, including the Azteca Bar, and dilapidated auto repair business and a building vacated more than two years ago. The properties are located along the east side of the 1900 block of Long Beach Boulevard.
Ellie Tolentino, Manager, Housing Services Bureau and Vice President of the Long Beach Housing Development Company 562.570.6926