South Bay Leader

Long Beach, CA – A $3.6 million loan by the City of Long Beach to a regional developer will be used to help acquire a Downtown property for a new affordable housing project that will offer 100 apartment units for low- and very low-income residents.

“This funding action continues our urgent work to increase the city’s housing stock and create opportunities for apartment homes for community members who currently meet low-income criteria,” said Mayor Rex Richardson. “We appreciate every opportunity to work with developers to help ensure that Long Beach has safe, quality affordable places to live.”

Facilitated by the Long Beach Development Services Department, the City’s nonprofit affiliate The Long Beach Community Investment Company (LBCIC) awarded the loan earlier this spring to AMCAL Multi-Housing Inc. to help buy the property at 946 Linden Ave. AMCAL, based in Agoura Hills, is planning to construct a new four-story apartment building on the 1.16-acre site that will provide a mix of one-, two- and three-bedroom units.

“The LBCIC enthusiastically continues to appreciate development opportunities like this one that will provide needed housing for our residents and workforce,” said LBCIC Chair Mary Castro. “Developers like AMCAL are valuable partners and truly exemplify how the City remains committed to bringing people and communities together.”

The project is to feature amenities that include a community room, fitness area, computer center, tot lot, courtyard and barbecue area as well as 125 underground parking spaces. The property is at the site of the First Lutheran School at the corner of 10th Street and Linden Avenue near St. Mary Medical Center. Construction is expected to begin in late 2024.

“We welcome the chance to work again with a responsible partner like AMCAL to build a new affordable housing project here in the Downtown area,” said First District Councilwoman Mary Zendejas. “This project is an example of our ongoing efforts to develop more housing and we look forward to when families will be able to call this project their home.”

AMCAL is a prominent developer of affordable and market-rate apartment dwellings in the Los Angeles area and beyond for more than 40 years. In 2021, the developer completed Las Ventanas, a mixed-use 102-unit housing development near the Blue Line Station at Pacific Coast Highway in Midtown Long Beach. AMCAL also completed Urban Village, a market-rate apartment community in Downtown Long Beach in 2015.

“AMCAL appreciates receiving a loan from The Long Beach Community Investment Company for this project,” says Percy Vaz, AMCAL’s CEO. “The loan is a key component of the capital stack that will help bring this new affordable housing community to fruition.”

Earlier this year, the Long Beach City Council adopted the proclamation of a local homelessness emergency to strengthen the City’s preparedness and ability to respond to homelessness, including moving quickly and efficiently to expand housing for low-income residents to help ensure they do not fall into homelessness.

“We are fortunate to have the financial resources available to partner with developers of affordable housing,” said Meggan Sorensen, manager of the Department’s Housing and Neighborhood Services Bureau. “We are ready to assist in bringing this prospective project forward to construction and completion.”

For more information on the City’s affordable housing and assistance programs, the community can visit longbeach.gov/lbds.

About the City of Long Beach

Home to approximately 470,000 people, the multiple award-winning and innovative City of Long Beach offers all the world-class amenities of a large metropolitan city while maintaining a strong sense of individual and diverse neighborhoods nestled together along the California coast. As a full-service charter city, Long Beach is home to the Queen Mary, Aquarium of the Pacific, several museums and theaters, a highly-rated school district, Long Beach Airport, the Port of Long Beach, as well as many award-winning City departments such as Health and Human Services; Parks, Recreation and Marine; Development Services; Public Works and more. The City also has a highly respected university and city college, two historic ranchos, five hospitals, 12 libraries, five golf courses, 169 parks, miles of beaches, marinas, bike paths and a Bike Share program.

For more information about the City of Long Beach, visit http://longbeach.gov/. Follow us on social to keep up with the latest news: Facebook, Twitter, Instagram, and YouTube.

About Long Beach Development Services 

Serving residents, businesses and the community at large, the award-winning Long Beach Development Services Department sets a standard for high-quality, innovative urban planning and livability efforts that create more progressive and sustainable communities within the diverse City of Long Beach, CA. Through a variety of development, code enforcement, housing and neighborhood services and building

activities, the Department builds a better future for the city while also honoring its unique past. For more information, visit longbeach.gov/lbds. Like our Facebook page and follow us on Twitter and Instagram.

Original source can be found here.