The Long Beach Community Investment Company, a non-profit affiliate of the City of Long Beach, announced last week that it has approved a $3.6-million loan to facilitate the construction of a new affordable housing development in its Downtown neighborhood.
The loan will go to developer AMCAL Multi Family Housing Company, which will use the money for the acquisition of a property at 946 Linden Avenue. On that approximately 1.1-acre site, plans call for the construction of a new four-story building featuring 100 low- and very low-income affordable units in a mix of one-, two-, and three-bedroom floor plans.
In addition to housing, plans call for amenities including a community room, a fitness center, a computer center, a courtyard, a tot lot, and underground parking for up to 125 vehicles.
946 Linden Avenue in Long BeachGoogle Maps
Construction is expected to commence in late 2024.
“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 Long Beach Mayor Rex Richardson in a news release. “We appreciate every opportunity to work with developers to help ensure that Long Beach has safe, quality affordable places to live.”
The Long Beach Post reports that AMCAL is currently seeking a $50-million state loan for the construction of the project, which would replace the First Lutheran School across the street from St. Mary Medical Center.
AMCAL previously developed the similar Las Ventanas apartments, which created 100 affordable units next to an A Line stop on Long Beach Boulevard.
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Looking for affordable housing? Visit lahousing.lacity.org/aahr and housing.lacounty.gov
