Skid Row Housing Trust teams up with the CMFA on Acquisition Rehabilitation of an Affordable Apartment Project in Los Angeles, CA
The Simone Apartments is an acquisition/rehabilitation of an existing 114-unit affordable multi-family rental development located at 520 S. San Julian Street, Los Angeles, California. The project involves the refinance of existing public debt with 4% Low Income Housing Tax Credits and tax-exempt bonds. Renovations include retrofitting of major building systems to increase the physical lifetime and energy efficiency of each building and increase the financial sustainability of the project. The project will be made up of studio apartments serving formerly homeless households making 30%, 40%, 50% and 60% or less of Area Median Income.