VAN NUYS, CA (June 26, 2024) – Alliant Communities secures financial closing for VOSE, a transformative, affordable housing project located at 7050 Van Nuys Boulevard, Van Nuys, CA 91405.
The VOSE project, set to be completed in the second quarter of 2026, will cost $160 million to build. Financing includes $117.2 million in bond proceeds through CalHFA. The development will feature 332 units across a six-story structure, catering to diverse housing needs with a mix of studio, one-bedroom, and two-bedroom apartments totaling 246,572 square feet. Additionally, the structure will feature 3,900 square feet of ground-floor retail space, bringing an abundance of exciting new life to Van Nuys Boulevard.
Leveraging strategic partnerships and innovative financing, VOSE aims to provide quality housing options while ensuring long-term affordability for residents. Units will be available to households earning as low as 30% to 50% of the area median income (AMI).
“As a company committed to creating impactful solutions for housing affordability, VOSE represents a significant step forward in addressing the pressing housing needs within the Van Nuys community,” said Shawn Horwitz, Co-Founder and Chairman of Alliant Communities. “We aim to provide quality housing options and long-term affordability for residents.”
The VOSE development will offer a variety of amenities, including stainless steel kitchen appliances, energy-efficient fixtures, central AC, granite and quartz countertops, in-unit washers and dryers, and balconies. The property will also have a range of community features, including a fitness center, pool and hot tub, sun deck, business lounge, clubhouse, community kitchen, dog run, garage parking with EV chargers, solar panels, and additional storage.
“VOSE is more than just a housing development; it’s a testament to our dedication to urban multifamily residential developments,” said Juan Aguilar, Chief Investment Officer of Alliant Communities. “With a focus on sustainability and community, VOSE will not only provide modern living spaces but also contribute to the vibrant atmosphere of Van Nuys Boulevard. We’re excited to see its positive impact on the community.”
VOSE’s strategic location offers easy access to multiple stops along the future East San Fernando Valley Light Rail line, providing enhanced connectivity throughout Los Angeles for future residents.
About Alliant Communities: Alliant Communities is a real estate development and investment platform that delivers affordable and attainable housing solutions in supply-constrained West Coast markets. Alliant Communities’ expertise spans the entire affordable housing spectrum, from executing LITHC units that are 100 percent rent-restricted to specializing in Attainable Mixed-Income housing. The Alliant Communities executive team has an average of over 25 years of real estate experience and a portfolio of more than 1,000 affordable housing communities. They have provided homes to over 400,000 families in the country.