LONG BEACH, CA—Palm Communities, Western Community Housing and WNC have broken ground on the 61-unit Ramona Park Senior Apartments here at 3290 E. Artesia Blvd.
Palm and Western have partnered to develop the $22.5 million complex, which will be comprised of a mix of one- and two-bedroom units. Planned property amenities include a central courtyard, pool, spa, fire pit, picnic area, fitness center, community rooms, classroom and recreation rooms. WNC provided $7 million in low-income housing tax credit equity. The development will serve citizens aged 55 and older with incomes up to 60 percent of the area’s median income. Construction is scheduled to be complete in April 2014.
“Ramona Park Senior Apartments has been financed at a time when funding for affordable housing has greatly diminished,” says Dan Horn, Palm CEO, in a statement. “We are very pleased to see the project come to fruition and look forward to providing many local seniors in need with a safe and peaceful place to call home.”