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.