California Community

Villas las Americas, Panorama City Los Angeles

Villas las Americas is an urban infill development that replaced an 0.8-acre vacant site in the Panorama City area of Los Angeles’ San Fernando Valley.

The development includes 55 affordable family units with 2-4 bedrooms, built with Type V wood construction over Type I concrete underground parking. The development is conveniently located near The Plant shopping center and on a Rapid bus route. Amenities include a courtyard, tot lot and community clubhouse. In addition, free social services and classes are provided to tenants.

Design exceeds Title 24 energy efficiency standards by 15%.

The project was financed with $13,354,000 in 9% Low-Income Housing Tax Credits that were allocated in 2006. The Los Angeles Housing Department funded $4,657,000.

Occupancy began in 2008.

100% affordable:
8 units – 30% AMI
8 units – 40% AMI
21 units – 50% AMI
17 units – 60% AMI
1 unit – Manager

Photos

Year Built

2008

Type

Family

No. Units

55

Total Cost

$19,366,000

Developer

AMCAL Multi-Housing

Contractor

AMCAL General Contractors

Architect

ARCHeon Group

Financing

Equity

$11,664,000
SunAmerica Affordable Housing Partners
$877,000
AMCAL Enterprises

Construction

$8,105,000
Washington Mutual

Permanent

$3,027,000
California Community Reinvestment Corp.
$4,657,000
Los Angeles Housing Dept.

Agency

Non-Profit

W.O.R.K.S.