January 7, 2020 — Agoura Hills, CA — AMCAL Multi-Housing, Inc. announced today that it has closed financing and has started construction on Veterans Park Apartments — a high-quality affordable apartment community being developed in Pomona for veterans.
Veterans Park Apartments is an affordable multi-family apartment complex with modern amenities that will consist of 61 apartments ranging in size from 600 to 1,100 square feet located at 444 W. Commercial Street. Veterans Park will include 25 one-bedroom apartments with one bath, 15 two-bedroom apartments with two baths, and 20 three-bedroom apartments with two baths. One apartment will be reserved as an unrestricted manager’s unit.
Veterans Park Apartments was awarded $1.8 million in annual federal tax credits by the California Tax Credit Allocation Committee.
Rents will range from $545 a month for a one-bedroom apartment to $1,519 for a three-bedroom apartment, which are affordable for households earning between 30 and 60 percent of area median income. The community will welcome veterans with Housing Choice Vouchers (HCV) issued from the HUD-Veterans Affairs Supportive Housing (HUD-VASH) program.
Veterans Park is AMCAL’s third apartment community in Pomona. AMCAL previously completed two communities for seniors in Pomona — Serenity Villas in 2002 and Portofino in 2005.
This article originally appeared in the Inland Empire Business Journal. Visit that news site to read the article.