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ADDRESS:
5441 N. Paramount Blvd
Long Beach, CA 90805
COUNTY: Los Angeles
PROJECT DESCRIPTION:
Northpointe Apartments is a 528-unit family apartment complex spread over 32 two-story buildings, located in Long Beach, California. The complex has 167 project-based Section 8 units and the remaining units are restricted to residents with incomes at 60% AMI.
Las Palmas and The Related Companies of California purchased the complex in January 2002. The partnership invested almost $9,000,000 in property improvements. The renovation included additional enhancements to the projects’ existing recreation center, childcare facilities and administration office. The new construction portion consisted of “park-like” open space areas; new tot lot equipment; the addition of a swimming pool and wading pool; a new fitness facility; upgraded site and security lighting; and a security system with vehicular gates and security cameras. In addition, the interior units were renovated with new heating units, new windows and sliding glass doors, upgraded bathroom fixtures, new roofs, new kitchen cabinets, counter tops, and appliances.
In addition, we offer a wide array of social, educational and recreational services for our senior and family residents.
There are many nice parks and recreation centers within walking distance of Northpointe Apartments. The local elementary school and high school are located within a few blocks of the community, and there is a licensed preschool onsite.
PROPERTY MGMT: Related Management Company
FINANCING:
Tax Credit Equity Partner: Related Capital Company
Construction & Permanent Loan: California Housing Finance Agency
Residual Receipt Financing: City of Long Beach
HUD Subsidy: Project-Based Section 8 Contract on 167 units
UNIT MIX:
32 1-bedrooms (737 Sq. Ft.)
400 2-bedrooms (952 Sq. Ft.)
 96 3-bedrooms (1,180 Sq. Ft.)
100% AFFORDABLE:
422 units are at 60% AMI
106 units are at 50% AMI
RESIDENT SERVICES: More Information
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