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.

Boyle Hotel Apartments

Boyle Hotel Apartments

Historic & Preservation

The Boyle Hotel Apartments, an historic and cultural landmark, is the substantial rehabilitation of a brick and masonry building constructed in 1889. The mixed-use development combines 51 units of quality affordable housing and approximately 4,150 square feet of ground floor commercial retail space.

Construction of 20 new units and the rehabilitation of 31 units has revitalized a blighted building on a high profile intersection in the heart of the Boyle Heights neighborhood, providing affordable homes to residents living on as little as 30 percent of Area Median Income.

In addition to upgrading all the internal systems, the building has a new roof, floors, double glazed windows, doors and fixtures, appliances and new kitchen and bathroom cabinetry. The historical commercial Victorian architectural features such as the parapet and conical cap were restored.

Boyle Hotel is directly across from the MTA Gold Line Light Rail stop with direct access to downtown Los Angeles, Union Station and Pasadena. Other amenities include a resident services coordinator and free educational classes.

Project sponsor East Los Angeles Community Corporation focuses on producing and preserving quality affordable housing and nurturing economic development opportunities for local low income and disenfranchised residents.

National Equity Fund invested $12.2 million of LIHTC equity in the project.


Project Details

Completed
2012
Location
101 N. Boyle Avenue
Los Angeles, CA
Project Type
Historic Rehabilitation
Total Units
51
Mix of Residences
32 - Studio
1 - 1 BR
18 - 3 BR
Limited Partnership
Boyle Hotel, LP
Tax Credit Equity
$12.2 million
Total Project Costs
$24.3 million
Sponsor
East Los Angeles Community Corporation
Permanent Lenders
California Community Reinvestment Corporation
City of Los Angeles Housing Department
Community Redevelopment Agency
City of Los Angeles
Wells Fargo Bank
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