Substantial rehabilitation at the aging Azusa Apartments includes vastly improved interiors, resident amenities, and common space. Sustainable improvements are seen in energy and water efficiency upgrades that include new “cool” roofs, dual pane windows, new air conditioning units, solar photovoltaic system, domestic solar hot water panels, and drought-resistant landscape with new irrigation system that minimizes water use. Within the units, residents enjoy Energy Star appliances and fixtures, formaldehyde-free cabinets, sustainable hard flooring, “green” carpet, and pads.
The common space was upgraded with a new contemporary play structure, resident garden, picnic and BBQ areas, as well as an ADA-accessible community building that houses a full kitchen, computer lab, and learning center.
Azusa Apartments were purchased by the developer to preserve the affordability of the community from being converted to market rate.
805 S. Cerritos Avenue
Azusa, CA 91702
Multi Family – Rehabilitation
Construction Cost – $ 5.7 million
Woodcroft Street Housing Associates, L.P.
Lender: RED Capital Group
Equity: Union Bank
The John Stewart Company
9% Low Income Housing Tax Credits
HUD 221 (d) 4 Loan
When you have buildings that are dilapidated, sometimes the attitude of the residents becomes – well no one cares so why should I care? Now, coming in with a major renovation sends a message to the residents that we do care and we’re going to keep it that way.