Centinela & Lincoln
About the project
Since its inception in 1988, the Venice Community Housing Corporation (VCH) has sought to provide housing that is both affordable and accessible to historically excluded populations in the Venice neighborhood. In addition to providing low-income and permanent supportive housing, VCH also offers a variety of community-focused resources such as job training and youth services.
VCH is located in Venice, CA, and has affordable housing developments across LA county and its surrounding areas.
LISC provided $1,710,279 to assist with VCH's debt refinancing of three permanent mortgages, in addition to the rehabilitation of two properties. Altogether, 27 units of affordable housing will be included in the renovations, with AMIs averaging 28% and 18% across two buildings. Affordable housing preservation in the Venice community is especially crucial, with rapid gentrification in the neighborhood causing exponentially rising rent costs.
Partner:
Venice Community Housing Corporation
Location:
Venice, CA
Total Investment:
$1.71 million
Results:
27 units
Project Category:
Affordable Housing
Product:
Debt Refinancing
Website:
UN SDGs:
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