Dozens of affordable housing units for low-income families will be coming to the City of Signal Hill after the Los Angels County Board of Supervisors approved a loan agreement with Las Brisas Community Housing II, L.P.
The Las Brisas housing development is located at 2400-2420 California Avenue in the City of Signal Hill. The project will consist of the creation of 60 units of affordable housing in the complex. The 60 units will be broken down into the following: 21 one-bedroom units, 18 two-bedroom units, 20 three-bedroom units, and one three-bedroom manager’s unit. The units will be reserved for families earning from 30 to 50 percent of the median income for the Los Angeles-Long Beach Metropolitan Area as determined by the U.S. Department of Housing and Urban Development.
In addition to the housing units, the development will also include a community center, management offices, laundry rooms, landscaped courtyards and parking areas with designated senior spaces. The parking will be made up of 71 on-site spaces, including 27 covered carports.
The total development cost of the project is $17,409,499. The term of the loan agreed upon is 30 years and it will provide up to $2,500,000 for the project. The project has no impact on the County’s General Fund, and the loan will be repaid by the rental receipts generated from the operation of the project.
This is a first-class housing development in a community that needs affordable housing, said Supervisor Don Knabe. This wonderful development will not only have an abundance of low-income housing, but it will also include a childcare center, a community room and a multitude of other services to accommodate the families living there.