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Long Beach celebrates opening of new affordable housing community
Long Beach Jun 17, 2024
City officials and partners celebrate the finish line of the new development 26 Point 2 affordable housing development. From left to right: Councilman Daryl Supernaw, Fourth District; Eva Melgarejo, Long Beach Community Investment Company, Director; Councilmember Kristina Duggan, Third District; Rex Richardson, Mayor, City of Long Beach; Janice Hahn, Office of Los Angeles County Supervisor; Dana Trujillo, Excelerate Housing Group, President & CEO, Emilio Salas, Executive Director, Los Angeles County Development Authority; Tahia Hayslet, Harbor Interfaith Services, Executive Director & CEO, Norma, Excelerate Housing Group, Chief Financial Officer.
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Last week the City of Long Beach celebrated the grand opening of 26 Point 2, a new 77-unit affordable housing development for low-income households that are experiencing homelessness. The development, by Excelerate Housing Group and their partner Harbor Interfaith Services, is comprised of studio units and residents will have access to a multi-purpose room with a kitchen and lounge, outdoor courtyard and barbecue areas as well as onsite social services.
“The 26 Point 2 development is yet another great project that will provide affordable homes and supportive services for those who are most in need,” said Mayor Rex Richardson. “This demonstrates the City’s affordable housing options continues to be a leading priority for Long Beach.”
Located at 3950 E. Pacific Coast Highway, the five-story project replaces a 1970s blighted two-story office building and surface parking lot. It is named after the distance of a marathon race to acknowledge that Life Is A Marathon that requires perseverance and endurance to push through the obstacles and injuries that occur along the way. The ceremony reflected this with a ceremonial race finish line as opposed to a traditional ribbon cutting.
Among those “crossing the finish line” at the event were: Mayor Rex Richardson; Councilmembers Kristina Duggan and Daryl Supernaw; Los Angeles County Supervisor Janice Hahn; Dana Trujillo, CEO of Excelerate Housing Group; Tahia Hayslet, Executive Director and CEO or Harbor Interfaith Services; Emilio Salas, Executive Director, Los Angeles County Development Authority; and, Eva Melgarejo, Board Member, Long Beach Community Investment Company.
“I am so happy to know that our district is now home to another affordable housing development that supports families who are at risk of experiencing homelessness and provides supportive social services,” said Third District Councilmember Kristina Duggan. “This project serves as a great example of Long Beach’s effort to strengthen neighborhood stability by creating more safe and livable communities throughout the city.”
The project, built at a total construction cost of $28 million, faced many obstacles over the past few years, including navigating the requirements of building over three abandoned oil wells that were capped a century ago but needed infrastructure improvements.
“The opening of this high-quality development is important for the community,” said Fourth District Councilmember Daryl Supernaw. “We need more of this type of housing that shines positively on the city and that tenants would be proud to call home.”
The 26 Point 2 project is 100 percent permanent supportive housing with project-based vouchers provided by the Long Beach Housing Authority. Residents were referred through the City of Long Beach Coordinated Entry System and have access to case managers from Harbor Interfaith Services on site six days a week. Services are paid with funding from the Los Angeles County Department of Health Services’ Housing for Heath Division.
Construction and permanent financing for the project was provided by the Long Beach Community Investment Company, the Los Angeles County Development Authority, National Equity Fund, Lument, California Bank & Trust, Century Housing Corporation, Farmer’s & Merchant Bank, the Federal Home Loan Bank of San Francisco, and the California Municipal Finance Authority.
“Quality housing like 26 Point 2 fortifies all our neighborhoods, making our city a more vibrant place to live, work and visit,” said Eva Melgarejo, a member of the Board of Directors of The Long Beach Community Investment Company, the City’s nonprofit affiliate that provided a $4 million loan for the project’s financing. “I take pride in our company’s dedication to helping support affordable housing for the community.”
Excelerate is a Long Beach-based woman-owned real estate development company founded in 2019 that creates new affordable housing in communities and is particularly focused on partnering with local nonprofits and public agencies to expand housing opportunities.
“Even though the members of the Excelerate team have been involved in numerous affordable developments throughout our careers, 26 Point 2 has a special place in our hearts,” said Dana Trujillo, President and CEO of Excelerate Housing Group. “26 Point 2 is the first project that we have completed under the Excelerate name, and to do that in Long Beach, the city where our company is located and where most of us live and our kids go to school, is very special.”
More information about 26 Point 2 and other affordable housing developments around the city can be found in the Department’s 2023 Annual Report.
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