Clearinghouse CDFI provided an $840,000 loan to Hale Morris Lewis Manor, LP for the refinancing and renovation of an affordable housing community in Los Angeles, California.
Nearly 500,000 low-income renter households in Los Angeles County do not have access to affordable housing. Hale Morris Lewis Manor (HMLM) is an affordable senior living facility that was originally built through the Low-Income Housing Tax Credit (LIHTC) program. This allows units at HMLM to be leased to senior households earning less than 50% area median income. The property includes 41 one-bedroom units of affordable rental housing, a garden/courtyard, laundry, community room, exercise room, elevator, and onsite parking.
HMLM is the product of the visionary leadership of Mother Barbara McCoo Lewis, President & CEO of BML Economic Development Corporation, a nonprofit affiliate of the Church of God in Christ. This property is managed by Solari Enterprises. Solari has over 25 years’ experience specializing in multifamily affordable housing projects. HMLM will continue to employ Solari as the full-service property manager to manage the subject property.
Download the PDF: Just Funded – Hale Morris Lewis Manor