TORRANCE, CA—Meta Housing Corp. has completed construction of the Cabrillo Family Apartments, a 44-unit affordable housing complex in Torrance. The $23 million development will help supply a market deeply in need of affordable workforce housing; however, with rents escalating to historic highs, Meta Housing says that more needs to be done.

“Cabrillo Family Apartments continues to help in filling a void in the community by bringing together two much-needed elements that contribute to the economic vitality of a city: affordable housing and a strong workforce," Kasey Burke, president of Meta Housing Corp., tells GlobeSt.com. "By developing this project, we are able to deliver quality housing that is both affordable and close to employment for the City of Torrance.”

Located at 1640 Cabrillo Avenue in Torrance, the property is LEED gold certified and includes a mixed-use component with 3,731 square feet of retail space. This will allow the residents to further interact with their communities as well as help to spur economic growth in the area. The apartment units include private balconies and the complex offers residents a 7,580-square-foot courtyard, a community room, classrooms and recreational deck.

“Like many communities in Los Angeles County, Torrance has a deep need for quality affordable housing to accommodate its growing workforce,” says Burke. “By replacing a run-down, vacant commercial building in downtown Torrance with this newly designed, quality affordable housing, we are filling a void in the community and creating an environment where local workers and families can thrive. As job growth continues and rents climb, workers are often forced to seek housing outside of their city of employment. Cabrillo Family Apartments will help to alleviate this problem in Torrance by delivering housing that workers can afford in a location that is close to employment.”

Bank of America Merrill Lynch acted as the tax credit investor for the project, while the City of Torrance and the California Community Reinvestment Corp. also helped to fund the development.

Meta Housing Corp. has completed a number of affordable housing projects in Southern California. The developer recently completed its first family artist colony in San Pedro, which will give local artists an affordable housing option. Named Pacific Avenue Arts Colony, the complex has 49 units and is already 100% occupied.