Southside Church of Christ and John Stanley, Inc. Celebrate the Groundbreaking of Serenity, a $35 Million Mixed-Use Affordable Rental Homeless Project for Seniors


The project is a public-private partnership with the City of Los Angeles Housing Department and the City of Los Angeles Housing Authority

LOS ANGELES, Sept. 20, 2022 (GLOBE NEWSWIRE) — On Monday, Sept. 19, Dr. Carl C. Baccus (Pastor) and Chris Baccus of Southern Christ Churchand Saki S. Middleton, President of John Stanley Inc., announced the groundbreaking of Serenity, a 50-unit affordable-rent, mixed-use project for homeless seniors in the City of Los Angeles.

The project is a partnership between John Stanley, Inc. (“John Stanley”), Southside Church of Christ (“Southside”)and Innovative Housing (“IHO”). Serenity is a 50-unit affordable-rent mixed-use development for homeless seniors with ground floor commercial space on 0.82 acres of what was formerly the Southside Church of Christ church parking lot. The project is a public-private partnership with the City of Los Angeles Housing Authority and the City of Los Angeles Housing Authority.

PUBLIC-PRIVATE PARTNERSHIP
The City of Los Angeles Housing Department issued a $9.22 Million Offer HHH Supportive Home Loan and issued $19,910,000 in tax-exempt and taxable notes funded through R4 Capital Funding LLC and privately placed with Western Alliance Bank and $12,647,000 in LIHTC equity raised by R4 Capital LLC for construction of the project and provided to the City of Los Angeles Housing Department 36 project-related vouchers for chronically homeless and homeless seniors. The project will serve 18 chronically homeless and 18 homeless seniors and 14 non-homeless independent senior households.

“This is a true public-private partnership,” said Saki Middleton, President of John Stanley Inc. “Continued support from Council Member Marqueece Harris-Dawson has resulted in a $9 million HHH proposal for assistive home loans and 36 project-based vouchers led the City of Los Angeles Housing Authority, which is critical to the advancement of this project. It will provide homeless seniors with permanent housing and supportive services that will improve their lives and improve the quality of the neighborhood.”

Also Read :  Minnesota food scheme stole $250 million; 47 people charged

“Such a long-awaited development, we are so grateful to God, church members, the community and the city for joining us to provide quality housing and services in the neighborhood,” said Dr. Carl C. Baccus, pastor of the Southside Church of Christ.

“To whom much is given, much is asked. We are thankful that God has given us this opportunity to give to others with this project. We look forward to continuing to serve our community,” said Chris Baccus, Executive Director of Concerned Citizens Community Involvement.

“Innovative Housing Opportunities is proud to be part of the solution to create more affordable housing for all seniors,” said Rochelle Mills, President and CEO of Innovative Housing Opportunities. “It is imperative that we all target this growing population with homes that are healthy, beautiful and safe.”

ABOUT THE PROJECT
Designed by Withee Malcolm Architectsthe mixed use Homeless project with 50 affordable rental units will consist of a five-story building with 50 one-bedroom studio and senior units, 1,600 square feet of ground floor commercial space and two podium parking lots on 0.82 acres. The project will be built in the Southside Church of Christ parking lot and the development will include the replacement of the church parking lot.

Also Read :  Bontle Modiselle’s 5 Best Fashion Moments to Celebrate Her Special Day, Fans Share Sweet Messages

The project will 20 studio/one bath and 30 one bedroom/one bath units and 1,785 square feet of commercial space on the ground floor. Amenities include a third level outdoor courtyard with BBQ area, seating areas and 1,500 square feet of indoor common space with lounge, kitchen, flex room and computer/classroom. The project also features a gym on the fourth floor, a laundry on the third floor and parking for residents. The units will serve homeless seniors and independent senior households age 55 and older whose annual household income is 60% or less of the Los Angeles County median income.

ABOUT JOHN STANLEY
Founded by Saki Middleton, John Stanley is a private real estate development company focused on the new construction, acquisition and rehabilitation of affordable and marketable mixed-use, mixed-income multi-family homes in the United States. John Stanley currently owns 12,000 residential units and has 1,200 mixed-use, affordable, mixed-income residential units under development. John Stanley maintains a wide range of partnerships, including public-private partnerships with municipalities, private equity firms, religious organizations and non-profit organizations across the United States. Visit www.johnstanleyinc.com.

ABOUT SOUTHSIDE CHURCH OF CHRIST/CCCI
dr Carl Baccus has served in the Southside Church of Christ since 1956. In 1980 Dr. Baccus the church itself as general contractor. In 1978, Dr. Baccus and its members Concerned Citizens Community Involvement (CCCI), a nonprofit organization dedicated to improving the health, education and well-being of South LA and the broader community. CCCI offers youth programs, nutrition programs, health seminars and STEM training, including an internationally recognized robotics program, and has partnerships with the Los Angeles Unified School District, Inglewood Unified and the City of Los Angeles Housing Authority. In 2005, Chris Baccus was appointed Executive Director to continue the legacy of his late mother, Gerri, with the goal of providing housing as the next step in the mission.

Also Read :  Lolli and Other Crypto Rewards Programs Explained

ABOUT INNOVATIVE LIVING POSSIBILITIES
Innovative Housing Opportunities (IHO) mission is to enrich communities by providing quality, affordable housing where residents can thrive, develop healthy habits, and achieve prosperity and stability. IHO’s California development portfolio provides housing for a variety of residents, including seniors, families, foster youth, veterans, people with mental illnesses, formerly homeless, the developmentally disabled and other individuals with special needs and mixed populations. Founded in 1976 to help businesses and governments address the city of Irvine’s shortage of low- to middle-income housing, IHO now operates throughout California in strategic partnerships that creatively and effectively maximize efficiencies while simultaneously create the most attractive and well-managed environments for residents and for the surrounding communities.

PR contact
[email protected]

Contact information:
Jennifer Bonantony
CEO, PPLA agency
[email protected]
323-496-1976

This content was distributed via Newswire.com’s press release distribution service.



Source link