RESEDA THEATER SENIOR HOUSING
Reseda Theater Senior Apartments is the development of a 26-home community on 0.25 acres of land that is currently under construction. The four-story elevator-serviced building will include 24 one-bedroom homes (625 sq. ft.) and 2 two-bedroom homes (940 sq. ft.). Of the 26 homes, 13 will be rented to seniors 62 and older who are homeless or chronically homeless and will operate under a HUD Project-Based Voucher Contract issued by the Housing Authority of the City of Los Angeles, where residents will pay monthly rent equal to 30 percent of their income.An additional 12 homes will be set aside for seniors 62 and older earning no more than 60 percent of the Area Median Income
Community amenities will include a business center and computer lab, a community room, exercise facility, central laundry and on-site management leasing office. Other amenities include a courtyard with a communal grill. Social services will be available to all residents and may include educational classes including financial literacy, computer training, home-buyer education, GED classes, resume building, nutrition classes, exercise classes, health information/awareness, art classes, parenting classes, smoking cessation and information about and access to available services in the community. Customized intensive case management services will be provided to those in the 13 subsidized apartments for formerly homeless individuals.
This property was financed using the Low-Income Housing Tax Credit (Housing Credit). Financing for Reseda Theater Senior Apartments was facilitated by R4 Capital and R4 Capital Funding. The developer is Thomas Safran & Associates Development, Inc.