Founded in 1978, AMCAL is committed to revitalizing the housing landscape of California, and has won multiple awards for its rental and for-sale products. From land acquisition to design, to coordination with municipalities and final construction, AMCAL communities always look and feel like market-rate developments.
During the past several years, AMCAL has developed, or is currently in the planning process of building and developing more than 2,800 affordable rental and for-sale units. The new housing is located throughout California, including Goleta in Santa Barbara County, Simi Valley, Pomona, Victorville, Coachella, Palmdale, Maywood, Sacramento, San Diego, the San Joaquin Valley, the Bay Area, and numerous urban revitalization projects in central Los Angeles and the San Fernando Valley.
The value of AMCAL projects currently under development exceeds $260,000,000. Financing is based frequently on allocations of Low-Income Housing Tax Credits and traditional institutional equity and bank loans. Since 2003, AMCAL has been awarded among the highest allocations of state and federal tax credits in California, valued at more than $300,400,000.
Strong financial institutions are impressed by AMCAL’s competence and regularly partner on for-sale and rental product, including the SunAmerica Affordable Housing Partners, Genesis Workforce Housing Fund (Phoenix Realty Group), Wells Fargo Bank, Citibank Community Development, California Bank and Trust, John Hancock Life Insurance, Hudson Housing Capital and Verizon Capital.
Award-winning architects are partners at the earliest stages of planning, including Van Tilburg, Banvard and Soderbergh, Withee Malcolm, Newman Garrison Gilmour + Partners and KTGY Group. Design excellence is incorporated in every project, and AMCAL’s Castelar Apartments in Chinatown was named a “Best of Downtown” new affordable development in 2004.
AMCAL has won numerous awards for its rental and for-sale products, including the National Association of Housing and Redevelopment Officials Award for its Positano development in Santa Barbara and several Elan Awards for its Canyon Cove for sale development in Oak Park. Its Avenue 26 Master Plan was a nominee for “Project of the Year” for Affordable Housing Finance magazine’s 2006 “Readers’ Choice” awards, and won the Multifamily Executive magazine’ 2007 “Editors Choice – Project of the Year” award and the NAHB’s 2007 “Innovation in Workforce Housing” award.
Most often, AMCAL’s affordable developments offer amenities similar to market-rate projects. Computer centers, job training, childcare, English language lessons and senior services are available at most new communities.
AMCAL is vertically integrated with acquisition, development, finance, asset management, and construction departments, which results in efficiencies and cost savings. From land acquisition to design, to the coordination with municipalities and final construction, AMCAL communities always look and feel like market-rate developments.
Quality is built in, and with AMCAL, ‘affordable’ never means less.
“Delivering the Dream”