PALMDALE PARK APTS
PALMDALE, CA
Address:
38002 15th St E, Palmdale, CA 93550
Property Type:
Family, Single site
Number of Buildings:
16 Unit Mix: (42) 2-bed and (16) 1-bed
Year Built: 1971
Year Renovated: 2018
On-Site Amenities:
Laundry Facilities, Leasing Office, Community Room, Playground
Affordable Programs:
Project-Based Section 8 and LIHTC
Development Budget:
$13.9 million
Development Financing:
4% LIHTCs and Tax-Exempt Bonds
LIHTC Investor:
Aegon
Debt Partners:
JLL / Freddie Mac
Nonprofit Partners:
Integrity Housing
PROJECT STORY
Situated in the heart of Palmdale and 60 miles north of Los Angeles, Palmdale Park Apartments is a 58-unit affordable property serving low-income families.
When BLVD Communities learned that the property had never been renovated since its original 1971 construction, the company saw a critical need for rehabilitation. Utilizing 4% LIHTCs, the company completed a comprehensive renovation. Today, Palmdale Park offers its residents a rehabilitated community in a classic Southern Californian aesthetic. Units feature new appliances, cabinetry, fixtures, and vinyl flooring, as well as remodeled bathrooms. The common area facilities including a leasing office, community room and renovated laundry facilities. Additionally, the aging stucco building exteriors have been restored with new paint, roofs, windows and LED lighting.
These design improvements have not only extended the useful life of the property, but ensured a higher quality of life for the families that reside there. In addition to a physical restoration of the asset, BLVD Communities prioritized the preservation of its affordable status by partnering with HUD and CTCAC. For the next 50+ years, Palmdale Park Apartments’ 58 units are assured to be restricted to low-income family residents.