City of Long Beach Awards $6.1 Million in Funding to Two Developers for New Affordable Rental Housing
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Long Beach, CA – The City of Long Beach, through its nonprofit affiliate The Long Beach Community Investment Company (LBCIC), on Jan. 18, 2023, awarded a total of $6.1 million in loans to two area firms for the purchase and development of affordable rental housing that will serve those who are experiencing or at risk of experiencing homelessness.

"This funding and key action reflects our sense of urgency to enhance the city's housing stock and support working families who are most in need," said Mayor Rex Richardson. "We thank The LBCIC and these development partners who, together, are helping ensure Long Beach has safe, quality affordable housing that meets the needs of our community."

Facilitated by the Long Beach Development Services Department, a total of $4 million in federal funding provided through the HOME Investment Partnerships Program, known as HOME, was awarded as a loan to Holos Communities, a North Hollywood-based nonprofit organization, for construction of affordable rental housing at 521 and 527 E. 4th St. The development will consist of two new apartment buildings featuring a total of 140 one-bedroom units. Seventy five percent of the units will be reserved for residents who are experiencing homelessness. The project is expected to break ground in summer 2024.

"We welcome the opportunity for a partner like Holos Communities to build an affordable housing project here in the downtown area," said First District Councilwoman Mary Zendejas. "With 75 percent of units dedicated for people experiencing homelessness and a local preference, this project underscores our efforts to address the homeless emergency and we look forward to residents who will be able to call this project their home."

A second loan of $2.1 million in federal grant funding was awarded to Jamboree Housing Corp. of Irvine, also a nonprofit builder of affordable homes, for acquiring the vacant property at 101 E. Pacific Coast Hwy. Expected to break ground in summer 2024, the site will be developed into a 52-unit permanent housing complex for those who are experiencing or at risk of homelessness.

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"I'm so proud that Council District 6 is contributing to increase the amount of housing available to meet the Long Beach Housing Promise," said Sixth District Councilmember Dr. Suely Saro. "We know that this housing is needed in our community and we look forward to seeing Jamboree build a beautiful project."

Holos Communities, formerly known as Clifford Beers Housing, has previously developed four other affordable housing projects in Long Beach, including Vistas del Puerto, a 48-unit apartment complex in the Midtown area. Jamboree Housing Corp. also has extensive experience developing projects in Long Beach, including the Puerto del Sol development and Collage Apartments, located in the Downtown and Midtown areas, respectively.

"The LBCIC enthusiastically continues to invest in opportunities like these that have the ability to provide housing for Long Beach residents," said The LBCIC Chair Mary Castro. "These developers are valuable partners. They truly exemplify how the City remains committed to bringing people and communities together."

"The City is fortunate to have critically needed financial resources and the means available to share them with developers of affordable housing," said Director of Development Services Christopher Koontz. "Our Department is honored and stands ready to assist in the entitling and permitting of the safe and sustainable construction of these prospective projects."

Last week, the Long Beach City Council adopted the proclamation of a local homelessness emergency to strengthen the City's preparedness and ability to respond to homelessness, including moving quickly and efficiently to expand housing and services. As part of this declaration, a dedicated work group has been assigned to focus on increasing housing opportunities, both permanent and temporary, that provide greater access for people experiencing and at risk of homelessness.

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For more information on the City's affordable housing and assistance programs, the community can visit longbeach.gov/lbds.

About the City of Long Beach
Home to approximately 470,000 people, the multiple award-winning and innovative City of Long Beach offers all the world-class amenities of a large metropolitan city while maintaining a strong sense of individual and diverse neighborhoods nestled together along the California coast. As a full-service charter city, Long Beach is home to the Queen Mary, Aquarium of the Pacific, several museums and theaters, a highly-rated school district, Long Beach Airport, the Port of Long Beach, as well as many award-winning City departments such as Health and Human Services; Parks, Recreation and Marine; Development Services; Public Works and more. The City also has a highly respected university and city college, two historic ranchos, five hospitals, 12 libraries, five golf courses, 169 parks, miles of beaches, marinas, bike paths and a Bike Share program.

For more information about the City of Long Beach, visit longbeach.gov/. Follow us on social to keep up with the latest news: Facebook, Twitter, Instagram, and YouTube.

About Long Beach Development Services
Serving residents, businesses and the community at large, the award-winning Long Beach Development Services Department sets a standard for high-quality, innovative urban planning and livability efforts that create more progressive and sustainable communities within the diverse City of Long Beach, CA. Through a variety of development, code enforcement, housing and neighborhood services and building activities, the Department builds a better future for the city while also honoring its unique past. For more information, visit longbeach.gov/lbds. Like our Facebook page and follow us on Twitter and Instagram.

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