Amcal Lands $123M to Develop Five Projects

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AGOURA HILLS, CA-Amcal Multi-Housing Inc. has lined up nearly $123 million in financing for multifamily projects in Palmdale, Los Angeles, East Los Angeles, Panorama City and Fresno that will provide 364 units of housing aimed at low- and moderate-income renters. The funding for the projects will come from four of Amcal’s financial partners: SunAmerica Affordable Housing Partners, WaMu, US Bank and California Community Reinvestment Corp.

The Amcal projects are the 81-unit Cielo Azul senior apartments in Palmdale, the 55-unit Villas Las Americas in Panorama City, the 74-unit Villas del Lago in Los Angeles, the 85-unit Villa Serena in East Los Angeles and the 69-unit Sandstone in Fresno. Construction has already begun on most of the developments.