U.S. Bank Provides $55.1M for Two Senior Living Developments

LOS ANGELES—U.S. Bank has provided $55.1 million in financing to Retirement Housing Foundation. The money will be used to build two senior affordable housing complexes in Los Angeles neighborhoods. Broadwood Terrace, in South Los Angeles, and Las Alturas, in East Los Angeles are scheduled to break ground in June. Combined the housing complexes will provide 165 units, 153 of which will be HUD 202 Section 8 rental subsidies. Construction will complete in the early fall of 2014. 

 

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Article Date: 
Monday, June 10, 2013