AMCAL Press Release

AMCAL, Pacific Western Bank, Lifesteps Host Successful ‘Partnership for H.O.P.E.’

Multi-Housing News (October 2012)

Agoura Hills, Calif.-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 percent of funds raised from this event go directly to AMCAL residents.

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.

The Partnership for H.O.P.E. Community Fair and Fundraiser also included a number of other corporate sponsors, such as:
GOLD – $10,000 AMCAL Multi-Housing

SILVER – $5000 Sullivan Curtis Monroe Chase FPI Management, Inc. US Bank Western Seniors Housing Rovner Construction Union Bank

BRONZE – $2500 Hudson Housing Capital Las Palmas Foundation Novogradac and Co. 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 California Bank &amp Trust

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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