The transition from military to civilian life is not a straight path. All too often, troops return home from their service only to end up without one. Century Affordable Development, Inc.’s (CADI’s) Building 158 is part of a larger master-planned community at the West Los Angeles Veterans Affairs campus that combats this reality.
The West Los Angeles VA Campus Draft Master Plan, started in June 2015, “represents unprecedented input and response to VA and the Secretary’s team with over 100 meetings and over 1,000 responses,” and provides a framework that guides the effective use of the existing campus for Veterans. An integral part of the master-planned community is Building 158, an adaptive reuse of the current VA information technology staff building. The development will create 49 homes for homeless and at-risk Veterans – contributing to the total of nearly 1,700 new supportive homes as part of the master plan.
“The redevelopment of the West LA Veterans Campus is an amazing accomplishment. Century and its partners should be applauded for their extensive role in bringing all the various constituencies together to make it a reality,” said Richard Shea, SVP, Originator at CREA. “Building 158 is the next step on the path to providing nearly 1,700 homes to those who were there for us when we needed them, and we can now thank them by helping to provide a place to call home. I couldn’t be prouder to have CREA help bring this impactful development to fruition.”
While all homeless residents deserve a safe, affordable place to live, the redevelopment of the West LA VA focuses specifically on underserved and growing populations such as female and senior Veterans. According to a 2015 report by the National Housing Conference and Center for Housing Policy, “The changing veteran population suggests a need to look critically at the programs that serve them, and to alter and expand services to better meet evolving needs.”
In addition to modern amenities, Building 158’s homes will come furnished and residents will benefit from extensive on-site services provided by Century Oasis Residential Services (CORS) at no cost. These services are intended to promote housing stability while simultaneously maximizing each resident’s ability to live independently. Services include:
benefits/entitlements assistance
mental health and domestic abuse services
substance abuse services
educational opportunities and computer competency
legal assistance
career planning
Rehabilitation will be underway in December 2023 with completion anticipated in August 2025.
“This development builds on Century’s 28-year legacy of supporting our Veterans and honoring their sacrifice. We are privileged to play a role in creating the nation’s largest supportive housing community for our Veterans at the West LA VA,” said Brian D’Andrea, SVP, Housing at Century and President at CADI.
Financing
In addition to $22MM in low-income tax credit (LIHTC) equity, Building 158 will be financed with a $4.2M permanent loan and nearly $27M in construction period bonds from Chase, as well as a $5M soft loan from California Assembly Bill 128, a $7.7M soft loan from Tunnel to Towers Foundation, and a $9.4M sponsor loan from Century Housing.
