Urban Pacific Announces Plans for 15-Unit Affordable Senior Apartment Community in Lynwood
September 17, 2008 -

LONG BEACH, Calif., – Urban Pacific Group, Inc. today announced it is partnering with the LINC Housing and the City of Lynwood Redevelopment Agency to develop a 15-unit apartment community for low-income seniors in Lynwood.

The yet-to-be named project will be located on Atlantic Avenue just north of the Century Freeway. The project is expected to break ground in December and be completed mid-year 2009.

The units will be set aside for seniors who qualify at or below moderate and low rental rate for Los Angeles County.

Offering one-bedroom floor plans with a host of amenities, the community will also include a recreation and crafts room, and an outdoor courtyard with a premier water element and sun deck. The building will also be elevator-served to all floors.Once completed, a variety of on-site programs and services are expected to be offered by LINC Cares, an affiliate of LINC Housing, which is serving as managing general partner on the project. Urban Pacific Construction Inc., a wholly-owned subsidiary of UPG, will act as general contractor to the partnership.

“This is Urban Pacific’s first development in Lynwood. We have been pursuing a relationship with the city for the last few months, and we’re looking forward to bringing much-needed affordable housing to the senior population of Lynwood,” said Scott Choppin, Chief Executive Officer of UPG.

Total development cost of the project is expected to be $1.65 million. The Lynwood Redevelopment Agency selected to negotiate with Urban Pacific and LINC Housing on this project after an exhaustive RFP process. Currently the Lynwood Redevelopment Agency owns the property. While the units will be 100% affordable, Urban Pacific aims at not utilizing any outside sources of funding A construction loan will be funded by Century Community Lending and the permanent loan funded through issuance of 501(c)(3) bonds by LINC Housing.

“We’re delighted to be partnering with the development team at Urban Pacific and LINC, with each having been responsible for creating many high-quality, affordable housing units throughout California for both seniors and working families, we are happy to have them work with us in Lynwood,” said Maria Santillan, Mayor for the City of Lynwood.

Headquartered in Long Beach, UPG was founded in 1999 to provide urban housing through the development of premier infill residential communities throughout the Western United States.

UPG specializes in mixed-use and intown housing developments and affordable housing communities, in urban areas close to employment centers and transit corridors. The company builds new construction and, where opportunities exist, it also converts vintage commercial buildings into live/work loft spaces that are increasingly popular among urban dwellers.

For more information on UPG or its current projects, phone the company at (562) 590-5600, or visit its web site at www.urbanpacific.com.