LINC Housing Finishes Construction on 31 Affordable Apartment Homes in Monterey Park

MONTEREY PARK, CA--(Marketwired - Sep 7, 2016) - LINC Housing joined residents, city officials, and partners to celebrate the completion of Mosaic Gardens at Monterey Park, a scattered-site affordable housing rental development that serves families earning between 30 and 60 percent of the area median income for Los Angeles County, as established by HUD. The community includes the renovation and upgrade of one nine-unit complex and four four-plexes (16 units), as well as new construction of six apartments and a community center on land that was previously a parking lot.

The construction at 236 S. Ramona features six new homes, a community center, public parking, and a corner plaza. The building is designed in a warm, contemporary character that complements the adjacent civic center structures. Sustainability features include design elements that promote use of natural light, shade and ventilation, thicker walls for added insulation, drought tolerant landscaping, and perimeter planting areas that promote storm water retention. The community center is centrally located to serve the residents of all 31 rental homes and includes a spacious room for gathering, a kitchen, computer lab, and classroom. LINC Cares, LINC's resident services department, will offer a variety of programs including educational, job readiness, nutrition classes, physical exercise classes, and supportive services and referrals for residents with individual needs.

This infill development is in a pedestrian-friendly district within walking distance of amenities including Barnes Park and Community Center, an elementary school, City Hall, post office, library, shopping, dining, and transit stops linking several bus routes.

The one- to three-bedroom apartments rent for $550 to $1,272, depending on household income. The properties were acquired in March 2015, construction began in April 2015, renovations were completed in May 2016, and the new construction was finished in August 2016.

Renovation of the existing sites focused on the preservation, repair and protection of the buildings to extend their useful life, as well as improvements for energy efficiency, resulting in at least a 17 percent reduction in energy usage. Each apartment received high-efficiency lighting, new Energy-star rated appliances, as well as new wall heaters and HVAC units. The existing buildings are located at 321, 325, 341 and 371 E. Pomona Blvd., and 534 N. Chandler Ave.

"LINC Housing's goal is to help cities meet the needs of their residents," said Rebecca Clark, LINC's president and CEO. "The scattered-site approach, mixing renovation and new construction, required extra creativity, but in the end, we've reached the objective -- which is to support the city in their desire to provide quality housing for their residents."

The $10.8 million renovation and new construction development is funded by the City of Monterey Park, a reservation of tax credits from the California Tax Credit Allocation Committee, tax credit equity from Raymond James Tax Credit Funds, Inc., and a construction loan from Citi Community Capital. The development received pre-development funding from the Enterprise Community Partners, California Endowment and JP Morgan Chase Foundation.

The schematic design from Studio One Eleven was brought to life by Withee Malcolm Architects. The contractor was Ruiz Brothers Construction. Both the new building and existing homes are pursuing Green Point Rated certification, a green program administered by Build it Green.

About LINC Housing Corporation
LINC Housing, one of California's most productive nonprofit developers of affordable housing, has helped create more than 7,500 homes in 73 communities throughout the state. The organization's properties are known for excellent design, outstanding management and life-enhancing services for its residents. LINC has more than 30 years of service to families, seniors, and local governments helping to create sustainable communities via new construction, acquisition and rehabilitation, and historic preservation.