2614 W 7th Street, Los Angeles, CA 90057
Waiting List Forecast: Likely Short or None
Verified for 2018 by Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Floorplan Info Upon Request | - | - |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Seventh and Coronado is a 68-unit, transit-oriented, community of affordable housing with social service space for large families.
Located along a major bus route with a stop in front of the building, the 100% affordable development offers 40 two-bedroom units, 24 three-bedroom units, and 4 four-bedroom units; underground parking, a spacious community room and learning center, laundry, central landscaped courtyards, balconies and patios.
Sustainable Design Green Elements
Seventh and Coronado, an infill development in the heart of the densely populated MacArthur Park area, combines smart growth and green building strategies. The design incorporated sustainable and environmentally conscious elements to pursue a Silver rating under LEED for Homes. Energy efficiency in design, material, and systems specification is an important consideration for healthy living. Each unit is designed to have 95% maximum day lighting (from two exposures) and flow-through ventilation. Some elements of Green Sustainable Design include:
Seventh and Coronado is financed by a 99-year ground lease from the Community Foundation Land Trust, Low Income Housing Tax Credits (TCAC), CRA/LA, AHP, a Proposition 1C HCD Infill Infrastructure Grant and equity syndicated by Hudson Housing Capital. The construction lender is Bank of America.
Architect: Hatch-Colasuonno Studio
General Contractor: Westport Construction/ICON Builders
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Seventh and Coronado does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $44,150 / year | $50,450 / year | $56,750 / year | $63,050 / year | $68,100 / year | $73,150 / year | $78,200 / year | $83,250 / year |
| 50% AMI for PBRA Units | $44,150 / year | $50,450 / year | $56,750 / year | $63,050 / year | $68,100 / year | $73,150 / year | $78,200 / year | $83,250 / year |
| 60% AMI for LIHTC Units | $52,980 / year | $60,540 / year | $68,100 / year | $75,660 / year | $81,720 / year | $87,780 / year | $93,840 / year | $99,900 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Seventh and Coronado have a waiting list?
Seventh and Coronado probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Seventh and Coronado?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Seventh and Coronado?
Seventh and Coronado is managed by Barker Management Incorporated(BMI) headquartered in Anaheim , California.
In addition to Seventh and Coronado, how many other affordable housing properties (and units) are there in Los Angeles?
In addition to Seventh and Coronado, we list 1089 other affordable properties in Los Angeles. Learn about these properties here. Our data research shows that there are a total of 70531 affordable units in Los Angeles.
3035-3045 Sierra Street , Los Angeles, California 90031
2010 Chariton Street, Los Angeles, California 90034
2250 Parkside Ave, Los Angeles, California 90031
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