USA Properties Fund Inc. said it has started construction on Vintage at Woodman in Panorama City, CA, bringing affordable senior housing to the community.
The 239-apartment community, located in the 7700 block of North Woodman Avenue just west of Ventura Canyon Avenue, will be available for residents at least 55 years old that meet an expanded range of income limits, thanks to the California Housing Finance Agency’s Mixed-Income Program, the company said. Vintage at Woodman is the first USA Properties project to use the Mixed-Income Program.
“We’re committed to building quality communities that become home to our residents, helps meet the need for affordable housing and improves neighborhoods,” said Geoff Brown, president of USA Properties in Roseville, CA. “Vintage at Woodman checks all those boxes, while also allowing us to tap into the Mixed-Income Program for the first time.”
“Vintage at Woodman is an example of the type of development that is key to addressing the housing crisis facing Los Angeles County and the entire state,” said Tia Boatman Patterson, executive director of the California Housing Finance Agency, said in the announcement. CalHFA issued tax-exempt bonds and provided subsidy funds through its Mixed-Income Program for the project, according to USA Properties. “The mix of incomes in this project allows local residents to improve their financial and housing situations while staying at home in their community,” she said.
