A new affordable housing development is coming to Long Beach.
Meta Housing Corp., in partnership with nonprofit Foundation for Affordable Housing, recently broke ground on 1400 Long Beach, a 163-unit affordable complex located minutes away from the city’s downtown.
“As one of the top 10 most populated cities in California, Long Beach is home to residents of all income levels,” Taylor Rasmussen, vice president and director of development at Meta Housing, said in a statement. “Without access to affordable housing, families and individuals at low to moderate income levels are put at risk of homelessness.”
According to the Sawtelle-based developer, the project will deliver much-needed housing for low and moderate-income family households earning between 30% and 70% of the area median income.
“Our goal is to provide high-quality housing that not only supports residents, but also seamlessly integrates into the existing neighborhood,” Rasmussen added. “The 1400 Long Beach project will represent our sixth development in the city of Long Beach and this successful groundbreaking demonstrates our continued investment in creating affordable housing for the Long Beach community.”
In addition to the Foundation for Affordable Housing, Meta Housing is collaborating with several partners to finance the building’s development, including California Housing Finance Agency, Bank of America, Century Housing Corp., California Tax Credit Allocation Committee and California Debt Limit Allocation Committee.
“We are thrilled to begin construction for this exciting project in Midtown,” Long Beach Mayor Rex Richardson said in a statement. “It carries on our commitment to prioritizing affordable housing options for our community, as we continue to produce affordable housing at record levels.”
When completed, 1400 Long Beach will be a six-story building offering 163 apartments, ranging from one-, two- and three-bedroom units. Onsite amenities will include a community room, a technology hub and a private courtyard. It is expected to be completed by 2026.
