National Equity Fund, Inc. National Equity Fund, Inc.

Extraordinary things happen when you have great partners
Since 1987, National Equity Fund® has invested more than $13 billion revitalizing neighborhoods,
fostering economic growth and creating affordable sustainable housing.

Star Apartments

Star Apartments

Supportive Housing

Star Apartments is an affordable rental development for extremely low-income individuals, most of them formerly homeless with special needs, in the Skid Row section of Los Angeles. Consisting of 100 studios and two one-bedroom apartments, Star is close to retail, markets, pharmacies, community centers, parks, health facilities and public transportation including rail and bus lines providing residents unlimited access to the greater LA area.

In order to control costs, the sponsor, Skid Row Housing Trust, decided to have the apartments built off-site and trucked to the location. Unlike other construction sites, a crane lowered prefabricated residences over an existing edifice. The result is 102 wood-framed modules affixed to a superstructure, saving months of construction work. Street level consists of a parking garage, commercial/retail and supportive services space. The second level includes a large dining area and kitchen, exercise room, restrooms, art room, computer lab, library and outdoor space with walking track, turf and basketball court, planters and seating area. The third level consists of four floors of residential space.

Skid Row Housing Trust provides an extensive range of services for people who are homeless and/or suffer from a mental or physical disability such as case management, individual and group counseling and alcohol and drug abuse counseling.

National Equity Fund® invested $19 million in LIHTC equity in Star Apartments.


Project Details

Completed
2013
Location
240 E. 6th Street
Los Angeles, CA
Project Type
Supportive Housing
Total Units
102
Mix of Residences
100 studio; 2-2 br
Limited Partnership
Star Apartments, LP
Tax Credit Equity
$19 million
Total Project Costs
$35.1 million
Sponsor
Skid Row Housing Trust
Permanent Lenders
Wells Fargo Bank
City of Los Angeles Housing Department
Housing Authority of the County of
Los Angeles
Community Bank
Awards
2014 Readers' Choice Winner
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