Acq/rehab of Senior Affordable Housing in L.A.
Joint venture partnership preserves low-income apartments
In 2008, Jamboree acquired Columbus Square and, in partnership with Preservation Partners Development, began renovation of the property in North Hills, CA. Residents were temporarily relocated during the property rehabilitation. The result is a garden-style gated apartment community providing much-need affordable workforce housing for active seniors in a walkable location. Restaurants, shopping and several schools are located within walking distance or a short drive. For recreation, residents can access nearby Sepulveda Recreation Center, Nordhoff Recreation Center and Devonwood Park. Amenities include laundry facilities, a community room, resident parking and picnic tables.
Since 2000, Jamboree has partnered with Preservation Partners Development to acquire, rehabilitate and permanently preserve “at-risk” affordable housing communities. This joint venture has led to the development of Columbus Square plus four other senior communities that provide long-term, secure housing and supportive social services for very low-income seniors. As a longstanding, trusted collaborator with Jamboree, Preservation Partners Management Group Inc. provides onsite property management services at Columbus Square, as well as the other properties in the Los Angeles County area.