Angelina Apartments
About the project
Little Tokyo Service Center (LTSC) was founded in 1979 to serve the monolingual Japanese seniors living in Little Tokyo and continues to serve the Japanese American population living in Los Angeles with senior services, child abuse prevention, individual and family mental health counseling, information and referral, and a senior activities center. The mission of LTSC is to provide a comprehensive array of social welfare and community development services to assist low income and other persons in need, contribute to community revitalization and cultural preservation in Little Tokyo and among the broader Japanese community in southern California, and to provide such resources to neighboring Asian Pacific Islander and other low income communities.
LTSC's geographic focus has primarily been Los Angeles' Little Tokyo but has expanded in recent years to include other areas near Downtown and East Hollywood.
LISC refinanced $2.56 million of outstanding debt through our MacKenzie Scott and Capital Magnet Fund partnerships in order to preserve Angelina Apartments, an existing 82-unit affordable housing development in LA's Echo Park neighborhood. The project includes 40 units restricted to households making no more than 50% AMI, 41 units restricted to 60% AMI and one manager's unit. In 2011, LAHD funded an energy retrofit of the Angelina Apartments that included windows, thermostats, commercial heat pumps, lighting and plumbing fixtures for all units as well as lighting and sensors for the common area.
Partner:
Little Tokyo Service Center
Location:
Los Angeles, CA
Total Investment:
$2.56 million
Results:
82 units
Project Category:
Affordable Housing
Product:
Debt Refinance
Website:
UN SDGs:
