Renovation of 34-unit Apartment Building Offers Low Income Families a Place to Call Home

January 16, 2014

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WASHINGTON, D.C. – January 16, 2014 – (RealEstateRama) — The City of Long Beach today celebrated the grand re-opening of Belwood Arms, a two-story 34-unit complex that will provide affordable, quality housing for residents with low- and very- low incomes. Together with The Long Beach Community Investment Company, formerly known as The Long Beach Housing Development Company, Hunt Capital Partners, LLC, Ashwood Townhomes, Inc. and Davila Properties LLC, the City is proud to open the doors to this new and improved housing development. <span id="more-2863"></span></p> <p>“This rehabilitation effort is yet another prime example of our commitment to providing quality, affordable housing to the working families of Long Beach,” said Mayor Bob Foster. “What better way to start off the New Year than with a new place for residents to call home.” </p> <table width="100%" cellpadding="0" cellspacing="7" border="0"> <tr bgcolor="#FFFFF1"> <td width="51%" align="center"> <h5><a href="http://www.ifossick.com/multiple-search/usa/media/US-National/Apartment+Building.html" target="_blank" rel="nofollow"><font color="#3300FF">Apartment Building in National News</font></a></h5> </td> <td width="49%" align="center"> <h5><a href="http://www.ifossick.com/multiple-search/usa/media/Social/Apartment+Building.html" target="_blank" rel="nofollow"><font color="#D50000">Apartment Building in Social Media</font></a></h5> </td> </tr> </table> <p>The building is located at 6301 Atlantic Ave., near Houghton Park and Jordan High School.</p> <p>“As part of our Uptown Renaissance, the Belwood Arms development is a great addition to the community and helps further support our vision for modern, safe and attractive housing options for the City’s residents,” said Councilmember Steven Neal, who represents the 9th District.</p> <table width="100%" cellpadding="0" cellspacing="7" border="0"> <tr bgcolor="#FFFFF1"> <td width="100%" align="center"> <h5><a href="http://www.ifossick.com/multiple-search/usa/media/California/Apartment+Building.html" target="_blank"><font color="#3300FF">Apartment Building in California News</font></a></h5> </td> </tr> </table> <p>The major restoration effort features a environmentally green building with freshly planted trees along the parkway of Atlantic Avenue; new architectural treatments and drought-resistant landscaping, new roofing and flooring, high-efficiency electrical and plumbing systems; and, renovated apartment interiors including updated appliances, finishes and lighting. Residents will have access to after-school programs, adult education services, job training and health programs at little or no cost. </p> <p>“This has been a joint effort that we are proud to be a part of,” said Bree Comstock, Vice President of Ashwood Townhomes, Inc. “We thrive on giving back to communities and are confident that Belwood Arms will benefit not only its residents, but will help the neighborhood flourish as well.” </p> <p>Belwood Arms will help to create a safe, healthy and viable neighborhood by maintaining rents affordable to households earning between 50 to 60 percent of area median income for a period of 55 years. The apartment complex includes 12 one-bedroom units with rents near $635 and 22 two-bedroom units with rents priced under $777.</p> <p>The $9 million project was financed through a combination of Federal Low Income Housing Tax Credit equity provided by Hunt Capital Partners, LLC, Federal Tax-Exempt Bonds issued by California Communities, and loans from California Bank & Trust and The Long Beach Housing Development Company / City of Long Beach.</p> <p><strong>About The Long Beach Community Investment Company</strong><br /> Formerly known as The Long Beach Housing Development Company, The Long Beach Community Investment Company (LBCIC) was renamed by the City of Long Beach in 2013 to assist in the delivery of housing and neighborhood revitalization services, use of Community Development Block Grant (CDBG) funding, and continued administration of the City’s affordable housing programs.</p> <p><strong>About Hunt Capital Partners, LLC</strong><br /> Hunt is an affiliate of Hunt Companies, Inc. (HCI), a national privately owned real estate investor, manager, developer, and contractor. Founded in 1947, HCI’s focus and experience is in public-private sector partnerships, military housing, mixed-use, multi-family housing, master-planned communities, government build–to-lease programs, retail, and office space. HCI and affiliates have over $10 billion in assets under management including 65,000 multi-family housing units. The company is headquartered in El Paso, Texas and has 515 regional offices throughout the United States.</p> <p><strong>About Ashwood Townhomes, Inc.</strong><br /> Ashwood Townhomes, Inc. is a California multi-family housing developer/builder. It was established in 1976 and it is family-owned and operated. The company has built over 17,000 units in more than 150 projects ranging in size from fewer than 40 to more than 400 units. The company has been recognized with several awards including a commendation from the City of Pasadena for the King Villages Apartments.</p> <p><strong>About Davila Properties LLC</strong><br /> Davila Properties LLC is owned and operated by Roger Davila. Mr. Davila has 37 years of experience in the real estate financing and the development field. He has participated in the development of over 1,400 affordable housing units and has been involved in all aspects of multi-family housing and commercial developments</p> <p>Contact :<br /> Patrick Ure, Housing Operations Officer, City of Long Beach 562.570.6026<br /> Patrick.Ure (at) longbeach (dot) gov<br /> Bree Comstock, Vice President, Ashwood Townhomes, Inc. 559.253.7240<br /> bcomstock (at) ashwoodco (dot) com<br />+</p>  <script async src="//pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script><div class="td-g-rec td-g-rec-id-content_bottom"> <script type="text/javascript"> var td_screen_width = document.body.clientWidth; if ( td_screen_width >= 1024 ) { /* large monitors */ document.write('<ins class="adsbygoogle" style="display:inline-block;width:468px;height:60px" data-ad-client="ca-pub-4765318478912403" data-ad-slot="5509231618"></ins>'); (adsbygoogle = window.adsbygoogle || []).push({}); } if ( td_screen_width >= 768 && td_screen_width < 1024 ) { /* portrait tablets */ document.write('<ins class="adsbygoogle" style="display:inline-block;width:468px;height:60px" data-ad-client="ca-pub-4765318478912403" data-ad-slot="5509231618"></ins>'); 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block_td_uid_6_67a45a1a3631a.td_column_number = "1"; block_td_uid_6_67a45a1a3631a.block_type = "td_block_2"; block_td_uid_6_67a45a1a3631a.post_count = "4"; block_td_uid_6_67a45a1a3631a.found_posts = "4100"; block_td_uid_6_67a45a1a3631a.header_color = "#"; block_td_uid_6_67a45a1a3631a.ajax_pagination_infinite_stop = ""; block_td_uid_6_67a45a1a3631a.max_num_pages = "1025"; tdBlocksArray.push(block_td_uid_6_67a45a1a3631a); </script><div class="td_block_wrap td_block_2 td_block_widget td_block_id_3368476966 td_uid_6_67a45a1a3631a_rand td_with_ajax_pagination td-pb-border-top"><h4 class="block-title"><span>Recent Government & Nonprofit Press Releases</span></h4><div id=td_uid_6_67a45a1a3631a class="td_block_inner"> <div class="td-block-span12"> <div class="td_module_4 td_module_wrap td-animation-stack td_module_no_thumb"> <div class="td-module-image"> </div> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/napolitanos-statement-on-trump-administrations-attack-on-clean-water-ID09898.html" rel="bookmark" title="Napolitano’s Statement on Trump Administration’s Attack on Clean Water">Napolitano’s Statement on Trump Administration’s Attack on Clean Water</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/california">California RealEstateRama</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-07-05T00:04:12+00:00" >July 5, 2019</time></div> </div> <div class="td-excerpt"> Rep. Grace F. Napolitano (D-El Monte), issued the following statement after the Trump administration announced a new proposal—claiming it to be pro-industry—which would weaken federal clean water rules, putting at risk the health and safety of millions of Americans </div> </div> </div>  <div class="td-block-span12"> <div class="td_module_6 td_module_wrap td-animation-stack td_module_no_thumb"> <div class="item-details"> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/flood-protection-and-water-storage-ID09937.html" rel="bookmark" title="Flood Protection and Water Storage">Flood Protection and Water Storage</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/realestaterama-2">RealEstateRama</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-07-04T03:31:39+00:00" >July 4, 2019</time></div> </div> </div> </div> </div>  <div class="td-block-span12"> <div class="td_module_6 td_module_wrap td-animation-stack td_module_no_thumb"> <div class="item-details"> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/senators-include-legal-protections-for-military-families-in-privatized-housing-in-defense-bill-ID09930.html" rel="bookmark" title="Senators: Include Legal Protections for Military Families in Privatized Housing in Defense Bill">Senators: Include Legal Protections for Military Families in Privatized Housing in...</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/realestaterama-2">RealEstateRama</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-04-01T10:24:14+00:00" >April 1, 2019</time></div> </div> </div> </div> </div>  <div class="td-block-span12"> <div class="td_module_6 td_module_wrap td-animation-stack td_module_no_thumb"> <div class="item-details"> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/mccarthy-introduces-legislation-to-repurpose-high-speed-rail-funding-to-water-infrastructure-projects-ID09929.html" rel="bookmark" title="McCarthy Introduces Legislation to Repurpose High-Speed Rail Funding to Water Infrastructure Projects">McCarthy Introduces Legislation to Repurpose High-Speed Rail Funding to Water Infrastructure...</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/congressman-kevin-mccarthy">Congressman Kevin McCarthy</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-04-01T10:20:36+00:00" >April 1, 2019</time></div> </div> </div> </div> </div> </div></div> <aside class="widget widget_archive"><div class="block-title"><span>Government & Nonprofit Press Release Archive</span></div> 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