Vacant retail buildings will be converted to over 330 units of housing; including units designated for extremely low income households
Alliant Strategic announces today the closing of their investment in Vose Apartments, a seven-story mid-rise building that will be converted into over 330 units of workforce and affordable housing in Van Nuys, CA. Alliant Strategic Development, the development arm of the Alliant Strategic brand, will raze the existing four buildings on site to develop new residential units of multifamily housing divided between studio, 1-bedroom and 2- bedroom apartments units and at least 158 parking spaces. Twenty- Seven (27) of the units will be set aside for Extremely Low Income (ELI) households, per Transit Oriented Community (TOC) development guidelines established by the City of Los Angeles.
Located in the heart of Van Nuys, Vose Apartments sits within an amenity-filled retail corridor, minutes from the 405 and 101 freeways. The property is within walking distance to Walgreens, Crunch Fitness, Citibank, Home Depot, Smart & Final, Super King Grocers, US Post Office, and Valley Medical Center.
Alliant Strategic Development’s strategy to develop affordable workforce housing in Southern California utilizes opportunities within the area; earlier this year, the ASD team closed on Topanga Apartments, a similar development that will repurpose a low rise office building into 148 units of multifamily housing. Thirteen (13) of those units will be set aside for Extremely Low Income (ELI) households, per TOC guidelines.
“At Alliant Strategic Development, we focus on developing real estate that pays social dividends to our communities” says John Shaw, President of Alliant Strategic Developments. “Our results are driven by our dedication to excellence for all of our partners, employees and, most importantly, our residents. Vose and Topanga apartments are perfect examples of that commitment.”