California Community

Tesoro del Valle, Los Angeles

Tesoro del Valle is a 121-unit affordable development with 2-4-bedroom family apartments that replaced a blighted, abandoned warehouse in the revitalized Lincoln Heights neighborhood. Construction is a Type V wooden structure over a Type I concrete podium for secure subterranean parking.

Tesoro del Valle is built on a 2.28-acre sire, part of the 10.0-acre “Avenue 26 Master Plan” with condominiums and retail located next to the Avenue 26 Gold Line station northeast of downtown Los Angeles.

The housing is adjacent to the Golden State and Pasadena Freeways along with Dodger Stadium and numerous amenities that make the development site a convenient location.

Tesoro del Valle was funded by a $14,313,000 allocation of 9% Low-Income Housing Tax Credits in 2003.

Occupancy began in 2006.

100% affordable:
12 units – 30% AMI
12 units – 40% AMI
60 units – 50% AMI
35 units – 60% AMI
2 units – Manager

Photos

Year Built

2006

Type

Family

No. Units

121

Total Cost

$21,012,000

Developer

AMCAL Multi-Housing

Contractor

AMCAL General Contractors

Architect

Van Tilburg, Banvard & Soderbergh

Financing

Equity

$11,095,000
SunAmerica Affordable Housing Partners

Construction

$6,050,000
California Bank and Trust

Permanent

$5,900,000
California Community Reinvestment Corp.

Agency

$913,000
Los Angeles Housing Dept.

Non-Profit

W.O.R.K.S.