Meta Housing Corporation has completed its first âfamily arts colonyâ apartment project - a new, 49-unit arts-focused affordable apartment community that integrates artistic live/work space in the San Pedro neighborhood of Los Angeles, California.Â
The community, the Pacific Avenue Arts Colony, is the fourth arts colony project developed by Meta Housing, and the first that is open to non-senior residents.
âOur senior arts colony apartment communities have proven successful in supporting and encouraging imaginative thinking and meaningful creative achievement among residents, while also bringing affordable housing and thoughtful architecture to many Cities,â says Kasey M. Burke, President of Meta Housing Corporation.
âThe Pacific Avenue Arts Colony will deliver a new level of creativity and connection to the San Pedro community,â continues Burke.Â âBy focusing on integrating affordable housing and studio space for artists, we are supporting the Cityâs goals of attracting new artists and patrons to Downtown San Pedro.â
Constructed on a former automotive repair facility lot in the historic core of the City of San Pedro, the 49-unit Pacific Avenue Arts Colony, or âPac Arts,â offers six ground-floor live/work units for resident artists, and includes a full-scale professional level art gallery space that will encourage connection and collaboration with the nearby arts district.
Meta Housing Corporation Senior Vice President Chris Maffris explains, âThe vision for this project is that it will serve as a gateway to the nearby San Pedro Arts, Culture, & Entertainment District (SPACE District), and will unite the surrounding communities through art exhibits, performances, and creative programming while providing quality, affordable housing to its residents.â
Maffris notes that this development represents the first major investment in San Pedroâs revitalization beyond the arts district.
âThrough this project, we are placing professional artists at the center of economic and community development, while ensuring that they can afford to enjoy the benefits of this neighborhoodâs revitalization,â says Maffris.
The Pacific Avenue Arts Colony development was financed with nine percent tax credits, as well as funds from the California Community Reinvestment Corp. and the Community Redevelopment Agency of the City of Los Angeles.
Meta Housing also worked closely with long-time partner Bank of America, which provided construction financing and equity for the project.
âBank of America is thoroughly invested in the vision for this project,â says Charmaine Atherton, a Senior Vice President with Bank of America.Â âBy partnering with Meta Housing, we are able to continue connecting Angelinos to not only high-quality affordable housing projects, but an artist community that provides a better quality of life for the San Pedro community.â
Atherton notes that Pac Arts is the 14th affordable housing community on which Bank of America and Meta Housing have partnered.
The Pacific Avenue Arts Colony was developed by Meta Housing in partnership with General Partner Western Community Housing, and was designed by Y&M Architects.Â Non-profit EngAGE will serve as arts and programming service coordinator for the project.
The community offers a variety of art-focused amenities, including professional-grade art studios, a soundproof music room, and a graphic media center, among others.
Located at 303 South Pacific Avenue in San Pedro, California, the Pacific Avenue Arts Colony is comprised of affordable one-, two-, and three-bedroom floor plans.Â More information is available at www.pacificavenueartscolony.com.