Highridge Costa Hosts Grand Opening of Main Street Apartments for Homeless Veterans and Families

(L-R): Martha Cisneros, VP of Real Estate, Western Community Housing; Margarita Lares, Chief Program Officer, HACLA; Tricia Keane, Interim General Manager, LAHD; Jackie Cox, Program Manager, DMH; Caitlin Barrow, Senior Project Manager, Highridge Costa Development Co.

Main Street Apartments Front Elevation

56 Fully Furnished Units Will Provide Permanent Supportive Housing to Veterans and Their Families Earning 30% to 50% of Area Median Income

LOS ANGELES, CA, UNITED STATES, October 31, 2024 /EINPresswire.com/ — Affordable housing developers Highridge Costa and Western Community Housing recently welcomed representatives from the Los Angeles Housing Department (LAHD), Los Angeles County Department of Mental Health (DMH) and the Housing Authority of the City of Los Angeles (HACLA) for the grand opening of Main Street Apartments in the South Park neighborhood near downtown Los Angeles.

The property will provide fully furnished, permanent supportive housing apartment homes to homeless veterans and families earning at or below 30% to 50% of the Area Median Income (AMI). Furnishings include a bed, couch, dresser, dining table, chairs, kitchenette, closet and a private bathroom. Community amenities include a community room, residential courtyard, roof terraces, bike storage, laundry facilities and onsite resident services.

The unit mix will include 42 studio units targeted towards homeless veterans, 14 two-bedroom units targeting homeless families and a one-bedroom unit reserved for the on-site manager. Besides 23 units set aside for homeless persons experiencing a mental health disorder, the site is also fully accessible to those with physical disabilities, including all indoor and outdoor spaces. Although 56 of the residences will be 100% fully adaptable units, in addition seven have features for mobility accessibility and four have features for communication accessibility.

“The grand opening of permanent supportive housing at Main Street Apartments is a great testament on how public-private partnerships can provide a legacy of attractive, safe and affordable housing,” said Moe Mohanna, President of Highridge Costa Development Company. “Over the life of the community, we anticipate that the stability, services and programs offered at Main Street Apartments will assist hundreds of veterans and families in the Los Angeles area to rebuild their lives.”

The 57-unit, mixed-use community also includes 1,500 square feet of commercial space reserved for a local non-profit organization or flex space for residents. In addition, there are three Intensive Case Management Services (ICMS) offices, with one on the ground floor and the others located in the fourth floor adjacent to a landscaped terrace. In the lobby, a mural including the Great Blue Heron by local artist Kristine Campbell is meant to symbolize the transformation, wisdom and determination of the residents who will make the property their home.

“Main Street Apartments provides much-needed permanent supportive housing units for veterans, families, and those with disabilities,” said Tricia Keane, Interim General Manager of the Los Angeles Housing Department (LAHD). “This project is another example of the success of our Proposition HHH work. The financial support from that measure, plus the coordination with other partners, makes housing like this possible to provide stability, dignity, and community for some of our most vulnerable neighbors.”

Others making the Main Street Apartments a genuine public-private partnership include the U.S. Department of Veterans Affairs, California Debt Limit Allocation Committee, California Tax Credit Allocation Committee, Los Angeles County Development Authority, Housing Authority of the City of Los Angeles, Los Angeles County Department of Health Services, City of Los Angeles, Los Angeles Housing Department, Citibank, RBC, The People Concern, Volunteers of America and Volunteers of America Los Angeles.

About Highridge Costa

Since 1994, California-based Highridge Costa has been changing lives through the development, preservation, ownership and operation of quality new and repositioned affordable, workforce, family senior and permanent supportive housing. Having developed nearly 310 communities and more than 30,000 affordable homes throughout the continental United States, Hawaii and Puerto Rico, Highridge Costa focuses on attractive, architecturally significant, multifamily living environments that integrate seamlessly into rural, suburban and city neighborhoods. Its expertise with federal Section 42 Low Income Housing Tax Credits (LIHTC), with tax exempt mortgage-backed revenue bonds and with other federal, state and local housing finance and grant programs make it one of the nation’s most knowledgeable developers and asset managers in the highly specialized housing tax credit industry. To learn more, visit https://www.hcosta.com.

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