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MULTIFAMILY NEWS
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Torrance Affordable Housing Project is Completed

6/18/15

Cabrillo Family Apartments, a 44-unit, mixed-used, affordable/workforce family apartment development in Torrance, has been completed. The project, which includes 3.7k sf of ground-floor retail space, is a development of Meta Housing Corporation, in partnership with Synergy Community Development Corporation.

Located at 1640 Cabrillo Ave, west of the 110 Fwy between Crenshaw Blvd and Western Ave, Cabrillo Family Apartments consists of affordable one-, two-, and three-bedroom floor plans. It was built to LEED Gold Certification standards.

Cabrillo Family Apartments sits three stories high along the front of Cabrillo Ave and four stories high along the alley towards the rear of site. The project offers a variety of amenities, including private balconies and a 7.6k sf courtyard, as well as a community room, classroom, and recreational deck, among others.

“Like many communities in Los Angeles County, Torrance has a deep need for quality affordable housing to accommodate its growing workforce,” says Kasey Burke, President of Meta Housing Corporation. “By replacing a run-down, vacant commercial building in downtown Torrance with this newly designed, quality affordable housing, we are filling a void in the community and creating an environment where local workers and families can thrive.”

Bank of America Merrill Lynch acted as the tax credit investor and provided construction financing for the project, for a combined total of nearly $23 mil. Additional financing partners included the City of Torrance, and the California Community Reinvestment Corporation.





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