CMFA Completed the issuance of $13,335,274 in Bonds for Beachwood Apartments

The Beachwood Apartments is the acquisition/rehabilitation of 45-unit affordable multifamily apartment project located at 475 West 5th Street and 505 West 6th Street, Long Beach, CA. The project provides a community room plus open green space and tot lots. The property amenities include a gym, computer room, garden, community lounge area and lush courtyards. Building renovations will consist of upgrades to mechanical, HVAC equipment and gas boilers. In addition, all windows will be replaced with a dual pane low-e type system. Interior renovations will include upgrades to the community room in the form of new flooring, paint, a new kitchen including appliances and a lounge seating area. Individual apartment units will be updated with new cabinets, countertops, flooring and bathroom upgrades. The financing of this project will result in the retention of affordable housing for 44 low income households in the City of Long Beach for the next 55 years.

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