HACLA partners with Thomas Safran & Associates to break ground on new affordable housing project in West Los Angeles
Los Angeles, CA – July 15, 2011 – (RealEstateRama) — The Del Rey Square Senior Housing Project is a new affordable housing community at 11976 Culver Boulevard in West Los Angeles. The project will contain 124 units (4 studios, 119 one-bedroom units and 1 two-bedroom manager’s unit) that will be targeted to households earning 60% of AMI or less. 30 of these units will be public housing units targeting senior and disabled households. The project is unique in its location on the Westside of Los Angeles, which suffers from a severe lack of affordable housing.
HACLA as Managing General Partner earns immediate and on-going fees which further its ability to create affordable housing. This is the first major addition of Public Housing on the Westside since development of Mar Vista Gardens in the 1950’s.
The project is a great example of Public/Private Joint Ventures that leverage the strengths of both industries in order to benefit our senior citizens and continue to increase the stock of affordable housing.
Photo: HACLA Development Services Director Larry Goins (fifth from the left) joins the stakeholders for a groundbreaking ceremony.
Source: Intergovernmental and Media Rel. Department
