AMCAL Press Release

AMCAL, Pacific Western Bank, Lifesteps Host Successful ‘Partnership for H.O.P.E.’ Event (PR Buzz)

PR Buzz (October 2012)

$135,000 Pledged to the H.O.P.E. Fund

( October 3, 2012 — AMCAL Multi-Housing, one of California’s leading builders of workforce and affordable housing, LifeSTEPS, AMCAL’s non-profit partner, and Pacific Western Bank, who handles AMCAL’s predevelopment financing, together hosted the second annual “Partnership for H.O.P.E.” (Housing Opportunities and Personal Empowerment) event in Los Angeles. The Partnership for H.O.P.E. goal is to provide housing opportunities, personal empowerment, valuable education programs and scholarships, and intervention services that help families maintain housing. 100% of funds raised from this event go directly to AMCAL residents. “AMCAL, PWB, and LifeSTEPS have a long history of working together for the betterment of workforce housing residents throughout California,” says Percival Vaz, chief executive officer of AMCAL.

“Our partnership in this effort is yet another opportunity for us to attract support – and recognition – for the communities and individuals we serve.” The event was held on September 8th at Avenue 26, ACMAL’s four-community master plan in Andalucía Heights in Los Angeles, and included food, live music, a sponsored luncheon, and a bevy of family activities. This site, formerly abandoned warehouses, is now home to families and seniors in need of affordable housing and 165 condominiums. “I’m amazed that a partner like AMCAL can create positive changes in the lives of so many people. And, they do it in such a way that there is a true return on investment as the scholarship recipients learn how to heal others and give back to a larger society,” says Beth Southorn, executive director of LifeSTEPS. Pacific Western Bank, this year’s Platinum Sponsor, presented a $25,000 grant to the H.O.P.E. Fund.

“We are thrilled to be part of the H.O.P.E. event,” says Jared M. Wolff, President-Los Angeles Region at Pacific Western Bank. “Our partnership with AMCAL on a multitude of affordable communities has created more sustainable living environments for California residents.”

The Partnership for H.O.P.E. Community Fair and Fundraiser also included other sponsors:
GOLD – $10,000: AMCAL Multi-Housing.
SILVER – $5,000: Sullivan Curtis Monroe, Chase, FPI Management, US Bank, Western Seniors Housing, Rovner Construction, Union Bank.
BRONZE – $2,500: Hudson Housing Capital, Las Palmas Foundation, Novogradac, Bank of America, California Bank & Trust, Cirrus Asset Management Enterprise, Wash Multifamily Laundry Systems, Criterion, Brock Art Deck, Angus Concrete, Holiday Carpet, Portrait Homes, Southland Lighting, Green Dinosaur, Pacific Coast Civil.

In addition to multiple apartment developments for low-income families and seniors, AMCAL is currently under construction on many new tax-credit developments that were awarded between 2009 and 2012.

These developments include Argyle and Terracina, both multi-family apartment complex’s in Los Angeles; Mosaic, a mixed-use workforce development in Los Angeles; Montecito Terraces, a Los Angeles development that received American Recovery and Reinvestment Act federal stimulus funds; Sunrise, a senior apartment development located in South Los Angeles; Mercado, a 60-unit family development in Perris, and Linda Vista, a senior housing community located on a historic property in the Boyle Heights area of Los Angeles. Additionally, AMCAL is also building Mission Villas, an 85-unit community in San Diego directly adjacent to the Washington Street trolley station. Tax-credit investors include Bank of America Merrill Lynch, JP Morgan Chase, Hudson Housing Capital and Union Bank of California.

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