State Funds Jumpstart Construction of 250 Homes and More
Construction of new housing and a long-envisioned town center at the north campus of the West Los Angeles VA complex is set to accelerate, thanks to a new infusion of state funding.
The Veterans Collective, a collaboration between Century Housing Corp., Thomas Safran & Associates, and U.S. Vets, has secured $105 million in tax-exempt bonds and low-income housing tax credits from the State of California, as reported by Urbanize Los Angeles. The newly announced funds will support the development of 250 additional homes for veterans and their families, as well as the creation of a Town Center intended to serve the community.
“Our commitment to Veterans is steadfast,” said Parisa Roshan of Thomas Safran & Associates. “This financing ensures we can continue providing housing, support, and a sense of community to those who served.”
The Veterans Collective’s larger plan involves the creation of more than 1,200 affordable housing units on the campus, ultimately accommodating up to 3,000 residents. The latest funding round will be allocated to Buildings 256, 408, and 409, adding to the 325 units currently under construction and the more than 450 that have already been completed, according to Paige O’Donnell of Century Housing.
To date, over $1 billion in public and private investment has been committed to revitalizing the north campus. Additional funding will likely be required to meet the housing needs of the estimated 3,000 homeless veterans living in Los Angeles County.
