Mercy Housing California has completed Burbank Boulevard Senior Housing, a 55-unit fully affordable and age-restricted community in Sherman Oaks, Calif.
TCA Architects designed the property to meet LEED Silver certification. The permanent supportive housing community was also built in accordance with the latest Cal-Green Building Code standards. The developers broke ground in May 2021, starting with the demolition of three existing buildings completed in the 1940s.
According to Yardi Matrix data, the financing for the project included:
- bonds totaling $14.7 million issued by City of Los Angeles Multifamily Housing Revenue Bonds, with Zions Bank as a trustee
- a $10.5 million construction loan from the City of Los Angeles Housing and Community Investment Department
- $100,000 in construction financing from Los Angeles County Development Authority
The four-story building incorporates studios and one-bedroom floorplans ranging between 314 and 550 square feet. Common-area amenities include a community room, a rooftop terrace, laundry facilities, electric charging stations, a solar electrical system, controlled access and parking spaces.
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Located at 14536 Burbank Blvd., the community is within the San Fernando Valley-Ventura County market. Burbank Boulevard Senior is close to the intersection of Route 101 and Interstate 405, which provide easy access across the Los Angeles metropolitan area. The community is within walking distance of several public transportation options, dining places, retail centers, entertainment venues and green areas such as Sepulveda Basin Recreation Area and Sherman Oaks Castle Park.
Seniors, the most affected demographic
Developed as a solution for the surging number of senior citizens experiencing homelessness, Burbank Boulevard Senior Housing is restricted to formerly homeless seniors over the age of 55. The tenants must undergo a screening process for the verification of the homeless status, which can include living in a shelter, on the street or in a transitional program.
California has been leading the nation in homelessness and homes prices for some time. Just last year the homelessness count increased by 10 percent in the city of Los Angeles, according to Los Angeles Homeless Services Authority.
Some of the most affected and vulnerable within the homeless population are the senior citizens. TCA’s Principal and Studio Director Armine Movsesyan stated in prepared remarks that the number of homeless seniors within the Los Angeles County rose by 22 percent in 2023.
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