A 33-unit affordable housing community for veterans and families recently opened its doors in Los Angeles.
The 33-unit Metro @ Western was completed by L.A.-based developer Meta Housing in a joint-venture partnership with Western Community Housing, a Southern California-based nonprofit.
“We are one of the most active affordable housing developers in Los Angeles,” says Kasey Burke, Meta Housing president. “We place an emphasis on creating high-quality apartments that fill a need in the local community, are located near transit, incorporate unique amenities, and are sustainably built,” says Burke. “In fact, Los Angeles recently surpassed San Francisco as the least affordable housing market in the nation. This has created a tremendous need for affordably priced housing in L.A., especially for veterans and families. Metro @ Western aids in filling this need.”
Meta and Western Community Housing partnered with several public entities, including the Department of Veterans Affairs, the Los Angeles County Development Authority, the state of California, and the city and county of Los Angeles to bring the apartment community to fruition.
Major Funding Sources
Funding for the $20.1 million Metro @ Western includes:
- $14.65 million in tax credit equity provided by Red Stone Equity Partners
- $1.61 million loan from Citi Community Capital
- $480,000 Affordable Housing Program loan from the Federal Home Loan Bank of San Francisco
- $1.85 million Veterans Housing and Homelessness Prevention Program loan from the California Department of Housing and Community Development
- $1.51 million loan from the Los Angeles County Development Authority
The $20.1 million new development features a mix of one-, two-, and three-bedroom apartments and is in close proximity to downtown Los Angeles, the Metro Expo Line, and less than a quarter mile from various public schools, a medical clinic, pharmacy, grocery store, retailers, and restaurants.
“Walkability and being close to public transit are always important components in all of our projects,” Burke says. “We carefully curate our apartment communities near transit hubs and other services so that residents have easy access to surrounding amenities and are engaged with the local community.”
The four-story apartment community features a variety of community-focused amenities, including outdoor lounge areas, a large community room with a kitchen, and a play structure.
“Sustainability is not only important to our projects, but also for the local community,” says Tim Soule, vice president at Meta Housing. “We want to ensure that we are reducing our carbon footprint and creating communities that are sustainable. At Metro @ Western, we incorporated a variety of sustainable features.”
Built to LEED Gold standards, Metro @ Western has a grey water treatment and reuse system, Energy Star-labeled appliances, and electric vehicle charging stations.