All 10 units will be reserved for first-time homeowners who make below 80% of the area’s median income.
A new townhome development in Long Beach’s Midtown celebrated its grand opening recently, with a ceremonial ribbon-cutting and applause from city officials and on-lookers alike.
Millennium Homes is a 10-unit development — each with three bedrooms, two bathrooms and attached two-car garages. The project also features 1,500 square feet of open space for residents and on site parking for guests.
Most notably, though, is that all 10 units will be reserved for first-time homebuyers, whose annual incomes fall below 80% of Midtown’s median.
The Long Beach Community Investment Company, an arm of the city that works with developers and community organization to address housing needs,, partnered with the nonprofit Habitat for Humanity to both develop the homes and help first-time buyers secure mortgages for them, according to a city news release from earlier this week.
“Long Beach is proud to partner with Habitat LA to help create homeownership opportunities for local families,” outgoing Mayor Robert Garcia said in the news release. “We remain committed to providing safe, affordable housing that meets the diverse needs of our residents and makes our community stronger.”
Habitat LA raised more than $1.5 million from local companies, individuals and faith groups to develop the homes, according to the news release. The LBICIC also provided a $990,000 loan toward the construction of Millennium Homes and another $1 million in second mortgage assistance loans for the soon-to-be residents.
“The LBCIC is proud to continue investing in opportunities that make the dream of homeownership a reality for more Long Beach residents,” LBCIC Chair Mary Castro said in the Tuesday, Nov. 29, release. “Millennium Homes is an incredible project that exemplifies this dedication and brings people and community together.”
Habitat LA built its first home in Long Beach 30 years ago, the release said, with the completion of Millennium Homes marking the organization’s 1,001st construction within the city’s bounds. The ribbon-cutting ceremony for the development took place on Nov. 19.
“I am also excited to celebrate my personal 1,000th home on this site, which is just a few blocks from where I was born,” Habitat LA President and CEO Erin Rank said in the release. “By 2025, Habitat LA will have invested nearly $30 million in the Washington neighborhood of Long Beach building and renovating much needed affordable housing.”
Up next on Habitat LA’s list: A 36-unit townhome development, 200 W. 14th St., also in Long Beach and not far from Millennium Homes. Development on that project is expected to begin later this year, the release said, and the units will be sold to mixed-income, first-time homebuyers.
About Habitat for Humanity of Greater Los Angeles
Habitat for Humanity of Greater Los Angeles (Habitat LA) brings people together to build homes, communities and hope. As the top nonprofit residential homebuilder in the greater Los Angeles area with a Charity Navigator 4-Star rating for eight consecutive years and the Platinum GuideStar status for transparency, Habitat LA has partnered with volunteers, donors and Habitat homeowners to build, renovate and repair more than 1,000 homes locally since 1990. The lives of thousands of individuals have been transformed as a result of having a decent and affordable place to call home. Habitat homeowners help build their own homes and pay an affordable mortgage. By supporting Habitat LA through volunteerism, donations and supporting affordable housing, everyone can help families achieve the stability and self-reliance they need to build a better future. To learn more, visit www.habitatla.org.
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Contact: Makebra Bridges
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