The community celebrated the grand opening of 456 West, a 91-home apartment community in San Pedro for families and individuals earning between 30% and 80% of the area median income. More than 4,300 people submitted pre-applications for these new apartments, demonstrating the high need for affordable housing in the region.
SAN PEDRO, Calif., Nov. 1, 2023 /PRNewswire-PRWeb/ -- Linc Housing and National CORE, nonprofit developers of affordable and supportive housing, joined dignitaries from the City of Los Angeles, community leaders and new residents to celebrate the completion of 456 West, a 91-home apartment community in San Pedro for families and individuals earning between 30% and 80% of the area median income. The all-new development received more than 4,300 pre-applications, demonstrating the high need for affordable housing.
"Everyone deserves to have a safe, comfortable place to lay their head at night - and I'm proud that today we're providing that with these 91 units in the Harbor area," said Los Angeles Councilmember Tim McOsker. "As we continue to tackle our housing crisis, we need to build at every level, but especially affordable housing to open doors to homes for these residents and prevent them from falling into homelessness. Thank you to National CORE and Linc Housing for giving our residents a great place to call home."
Gina, a new resident at 456 West, recently broke free from a 13-year domestic violence situation. Gina and her 9-year-old son, Joseph, lived in an emergency shelter for 30 days, followed by six months in interim housing where they had no kitchen or bathroom of their own. Gina saved her money and applied to 456 West. When she learned she had been selected for an apartment, she said it felt surreal because she had never been someone who wins. Gina and Joseph love their new home. Joseph enjoys the third-floor outdoor community where he can run and play, while Gina is making use of the fitness center to help improve her health. "Nothing compares to being able to call a home your own," she said.
The new six-story building, located at 456 West 9th Street in San Pedro, has five studio, 27 one-bedroom, 35 two-bedroom, and 23 three-bedroom apartments, as well as a two-bedroom manager's apartment. The building features a community room with computer and kitchen areas, a gym, and bike storage. Outdoor community spaces include play areas, a picnic terrace, and a community lawn. There is also 4,900 square feet of ground floor commercial space.
456 West is an electric-only building, resulting in lower carbon emissions, lower air pollution, and increased resiliency.
"The best way to ensure strong, stable communities is to offer housing for people at all income levels," said Rebecca Clark, CEO, Linc Housing. "456 West brings 91 more affordable homes to this dynamic, walkable neighborhood. It is our hope that this new community provides a solid foundation for families to thrive."
The City of Los Angeles contributed the land for the new community. Other funding sources include HOME funds managed by the Los Angeles Housing Department (LAHD), tax credits through Raymond James, a construction loan from Bank of America, and a permanent loan by California Community Reinvestment Corporation.
The Hope through Housing Foundation provides onsite social services to help elevate the health, well-being, and self-sufficiency of residents. A professional service coordinator, in conjunction with local community partners, arranges an array of programs addressing resident health, parenting skills, employment, money management, exercise, nutrition, and youth development.
"We know that accessible housing is just the first step in tackling our crisis in affordable housing," said Micheal Ruane, president, National CORE. "It's the mix of resident services coupled with high-quality homes that allows residents to achieve and maintain lasting stability, safety and security. We're committed to offering high-quality onsite services to ensure that residents break the cycle of generational poverty while fostering a sense of community."
RRM Design Group designed 456 West, and National CORE served as the general contractor. Construction began in February 2021, and the community welcomed its first residents in August 2023.
About Linc Housing Corporation
Linc Housing, one of California's most productive nonprofit developers of affordable housing, is committed to building communities and strengthening neighborhoods for people underserved by the marketplace. Linc has helped create nearly 9,500 homes in 94 communities throughout the state. The organization's properties are known for excellent design, outstanding management and life-enhancing services for its residents. Linc has nearly 40 years of service to families, seniors, people with special needs, and local governments - helping to create sustainable communities via new construction, acquisition and rehabilitation, and historic preservation. Visit http://www.Linchousing.org for more information.
About National CORE and Hope through Housing Foundation
National CORE is one of the largest nonprofit developers in the nation, with a 30-year history of being an innovator in the field. In 2021, National CORE became one of only two affordable housing developers to earn an A+ credit rating from Standard & Poor's Global Ratings. In 2022, National CORE issued $100 million in Series 2022 Social Bonds to accelerate the development of critically needed affordable housing. Serving about 30,000 residents, National CORE strives to be a launching pad, not a landing pad, for families struggling financially. In 1998, National CORE created the Hope through Housing Foundation, a philanthropic nonprofit with a mission to end the cycle of generational poverty through resident services that promote educational attainment, economic mobility and overall well-being.
SOURCE Linc Housing