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Amcal Debuts 55-Unit Family Complex

PANORAMA CITY, CA-The affordable housing developer's new Villas Las Americas apartment complex in the San Fernando Valley is designed to accommodate families.

By Bob Howard | Updated on July 13, 2009

PANORAMA CITY, CA-Affordable housing developer Amcal Multi-Housing Inc. of Agoura Hills has unveiled its new 55-unit Villas Las Americas apartment complex in the San Fernando Valley, a project that is designed to accommodate families earning between 30% and 60% of the area median income. Designed by Los Angeles-based ARCHeon Group Inc., Villas Las Americas is an infill development replacing a vacant site of just less than one acre.

The complex features 12 two-bedroom units, 27 three-bedroom units and 16 four-bedroom units. It was financed with more than $13.3 million of 9% low-income housing tax credits and cost more than $19 million to build.

Loans for equity, construction and permanent financing totaling $27.4 million by SunAmerica Affordable Housing Partners, Chase Community Development Banking, California Community Reinvestment Corp. and Los Angeles Housing Department allowed Amcal and its nonprofit partner W.O.R.K.S. to build Villas Las Americas. Amcal General Contractors was the general contractor.

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