Montecito TerracesPanorama City, CA
AMCAL Multi-Housing, Inc.
98 Senior Affordable Apartments
528 sf – 771 sf
122 Subterranean Stalls
Replacing outdated apartments in Panorama City, CA with a new senior development covering two non-contiguous sites, Montecito Terraces provides 98 1-& 2-bedroom units for low-income seniors. Conceived as a Mediterranean-style design to complement the area’s historic architecture, the complex provides an architectural anchor for future upgrades to the neighborhood. The buildings are three levels of Type-V wood over Type-1 concrete with semi-subterranean parking. Montecito Terraces is the first project designed for AMCAL Multi-housing to receive LEED Gold Certification utilizing sustainable methods including diverting waste from landfills and recycling building materials, low-water use systems (irrigation and personal use), low-VOC paints and high-rated HVAC filters.
100% affordable, the project was financed with an allocation of 9% low-income Housing Tax Credits in 2009, conventional debt and public funds from the Proposition 1C Infill Infrastructure Grant fund, ARRA federal stimulus fund, Los Angeles Housing Dept., and Los Angeles CRA.