SENIOR COMPLEX TO BE BUILT.Byline: Gregory J. Wilcox Wilcox may refer to: Place names in the United States
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NORTH HOLLYWOOD Hollywood. 1 Community within the city of Los Angeles, S Calif., on the slopes of the Santa Monica Mts.; inc. 1903, consolidated with Los Angeles 1910. - Tapping into an underserved market, a Burbank-based developer will begin construction next week on the first phase of a 403-unit apartment complex for senior citizens with low to moderate incomes. The builder, Western Security Development Corp., expects a waiting list of up to 3,000 prospective tenants when the $20.7 million initial phase of 203 units is completed early next year. The company built a similar 188-unit project at Laurel Canyon Boulevard Laurel Canyon Boulevard is a major street in the city of Los Angeles, California. It starts off at Polk Street in Sylmar in the northern San Fernando Valley near the junction of the San Diego (Interstate 405) and the Golden State Freeways (Interstate 5). and Chandler Chandler, city (1990 pop. 90,533), Maricopa co., S central Ariz., in the Salt River valley; inc. 1920. It is both a residential community and a center for research and technology. Tourism is also important, and the San Marcos Golf Resort is in Chandler. Street five years ago that filled up right away. Eventually, the new project will occupy an entire block of Vanowen Street between Whitsett and Rhodes avenues south of Valley Plaza Park. The company received final approval for the plan a week ago from the Los Angeles City Council  The Los Angeles City Council is the governing body of the City of Los Angeles, California, United States. .
``The need for more affordable senior housing is a major social issue, and will become even bigger in decades to come,'' said John Huskey, Western Security's managing director. Residents will be classified into three economic tiers; those with annual incomes at 35 percent, 50 percent and 60 percent of the area median income, he said. About $14 million of the construction funds is coming from the federal low income housing tax credit plan. The credits are sold to major corporations, which then get to take a dollar-for-dollar deduction deduction, in logic, form of inference such that the conclusion must be true if the premises are true. For example, if we know that all men have two legs and that John is a man, it is then logical to deduce that John has two legs. on their corporate income tax. Donald J. Smith, executive director of the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Housing Authority, said his agency is the only one to build a project of this size in the city. There is a big demand for this type of housing, with about 23,000 people on waiting lists for a variety of programs. ``There is not a lot of new construction going on for seniors or families in the affordable market,'' Smith said. ``So this is a project of considerable magnitude.'' Seniors interested in getting information about the waiting list can call (818) 557-5639, Huskey said. CAPTION(S): Map Map: SENIOR HOUSING COMPLEX |
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