Property Information

Cypress Senior Living

Location: Glendale, California
Property Type: Senior
Units: 18
Financing: 9% Rehabilitation Low Income Housing Tax Credits and HOME Funds

Property Information

Located in the heart of Glendale, Cypress Senior Apartments, originally constructed in the 1920’s, consisted of the acquisition, remodel and conversion of an existing two story 18-unit market rate apartment building into an affordable senior rental project. Six of the units are Veteran preferred. Nine percent Rehabilitation Low Income Housing Tax Credits (“LIHTC”) and 4% Acquisition LIHTC’s were utilized to finance the project. Property amenities include a community area with resident computers for internet and printing access, a community garden, and on-site resident services. Cypress Senior Apartments is located in an area with immediate access to public transportation, dining, and entertainment options. The Glendale Housing Authority supported the project by providing $1,447,523 in HOME funds for the rehabilitation in addition to providing a below market permanent loan which eliminated the need for conventional permanent financing.

Address

311 E. Cypress Street
Glendale, CA

Community Garden
Studio Apartment Interior
Cypress Senior Living Streetview