LOS ANGELES — Meta Housing Corp., a Los Angeles-based developer, in a joint venture partnership with Western Community Housing, a Southern California-based nonprofit corporation, has broken ground on Vermont Corridor Apartments.
The six-story, transit-oriented, affordable community is located in the Koreatown neighborhood of Los Angeles. The $51.4 million project will provide affordable housing for seniors age 62 and older earning between 25 and 60 percent of area median income.
Of the 72 units to be built at the property, 36 will include supportive services funded through the County of Los Angeles’ Measure H and subsidized rents for residents experiencing varying levels of homelessness. These units were constructed with funding from Proposition HHH from the City of Los Angeles and a partnership with the Housing Authority of the City of Los Angeles (HACLA), the Los Angeles Housing and Community Investment Department (HCID) and the County of Los Angeles.
“Affordable seniors housing is extremely difficult to find in Los Angeles,” says Kasey Burke, president of Meta Housing. “Los Angeles needs more affordable alternatives for older residents, and we are delivering that alternative in this project. This is a great example of public-private partnership working together to improve the community and the lives of our future residents.”
In addition, Vermont Corridor Apartments will include a 12,500-square-foot community center on the ground floor dedicated to the YMCA that will provide community services through its local partnerships and service offerings.
The development is a reuse of an underutilized county property. The 113,061-square-foot apartment community will be constructed to LEED Gold standards and is located three blocks from the Metro Purple Line’s Wilshire/Vermont station.
Meta Housing Corporation and Western Community Housing will serve as co-developers and general partners on the project. Western Community Housing will also coordinate resident services, while The People Concern will coordinate supportive services. Westport Construction Inc. will serve as the general contractor, with Y&M Architects as architect. AMJ Construction Management will handle construction management, and The John Stewart Company will manage the property.
The project is slated for completion in March 2021.