While the growing disparity between household incomes and housing costs leave a demanding need for housing that working people can afford, both Abode Communities and LBHDC continue their work in advocating and supporting the new construction and renovation of quality, affordable homes that promote safe and livable neighborhoods.
“Thanks to LBHDC and Abode Communities, these properties will not only receive a much needed facelift, but will provide secure housing for families while offering residents valuable services,” Neal said.
“Through our public-private partnerships we do make significant efforts to improve living conditions for families and provide affordable housing units for Long Beach residents,” said 4th District Councilmember Patrick O’ Donnell.
The sites – The Palm, The Sage and The Jasmine– are located at 1801 E. 68th St., 1823 E. 68th St. and 1528 N. Freeman Ave., respectively.
The properties, originally owned by The Long Beach Housing Development Company, were purchased by Abode Communities in 1999. The major renovation effort will include two new tot lots, new roofs, new landscaping, building façade improvements, new apartment interiors, and high-efficiency mechanical and plumbing. Most notably, two sites will feature expanded and modernized community rooms, and Abode Communities will provide essential basic services to residents at little or no cost.
“We’re excited to bring Abode Communities’ value-added services to these residential communities,” said Robin Hughes, president of Abode Communities. “By repositioning these properties, we are able to enhance our physical asset, extend the affordability of the apartments and bring onsite services to the residents.”
Resident services will include after-school programs; computer training; resource and referrals to healthcare, job training and adult-education programs; employment preparation and assistance; financial education; educational workshops; and community outreach events.
Extending the long-term affordability of these properties for a term of 55 years, Evergreen Apartments’ mission is to create safe, healthy and viable neighborhoods. Nearly 180 residents are currently living at the sites, with each household earning between $27,518 and $30,862 or 50 percent to 60 percent of the area median income.
The project was financed through a combination of Low Income Housing Tax Credit equity provided by U.S. Bancorp Community Development Corporation, a subsidiary of U.S. Bank; construction and permanent loans from Union Bank; tax-exempt bonds issued by California Municipal Finance Authority; HOME Investment Partnership Program funds obtained through The Long Beach Housing Development Company; and a private developer loan to Abode Communities.