The CMFA issues $13,625,000 in Bonds to the Standard Property Company, Inc. for the Beverly Park Senior Apartments located in Los Angeles, California
The Beverly Park Senior Apartments project is an acquisition/rehabilitation of an existing 49-unit project, currently known as Beth Am Manor Apartments that houses seniors and is subsidized with a Project-Based Section 8 contract. The project will include substantial rehabilitation of each unit as well as rehabilitation to the community room and shared facilities. The rehabilitation aims to increase energy and water efficiency and will include a 20-year renewal of the HAP contract. Rents will be restricted to senior households with incomes no greater than 50% and 60% of the area median income. The apartments are located Los Angeles, California.