Los Angeles-based developer Meta Housing has broken ground on an affordable housing development in Westminster.
Meta Housing partnered with Costa Mesa-based nonprofit Western Community Housing for the three-story, 65-unit project at 7122 Westminster Blvd., not far from Goldenwest Street.
Meta Housing closed on the 2.3-acre lot last year for $7.2 million.
The site held a 45,479-square-foot multitenant retail building that’s since been razed to make way for the Westminster Crossing development, which will total close to 140,000 square feet.
The developers cited a $42 million price tag for the project, which runs nearly $650,000 per unit, well above the norms for a multifamily development.
A reason for the high estimated development cost was undisclosed.
Housing for Homelessness
Meta Housing partnered with several public and private entities to finance the project, including the City of Westminster; County of Orange; California Housing Finance Agency; U.S. Department of Housing and Urban Development; Capital One Bank; California Community Reinvestment Corporation; and Red Stone Equity Partners.
“With rents skyrocketing across California, the combination of public and private partnerships is increasingly essential to address the growing need for quality affordable housing in our local communities,” President Kasey Burke said.
Twenty of the 65 units will be designated for “individuals experiencing varying levels of homelessness.”
The project will include 89 parking spaces and amenities such as community and conference rooms, art studio, gym, community garden, outdoor lounge with barbecue area, and a synthetic turf play area.
The general contractor is KPRS Construction Services Inc.; IMG is the construction manager; Y&M Architects and MJS are handling architecture work.
The project is expected to be completed by fall 2021 and will be managed by John Stewart Co.
Santa Ana Redevelopment
This will be the eighth local development for Meta Housing, which currently counts an OC portfolio totaling 848 units. The company is also working on the conversion of a five-story commercial building in downtown Santa Ana into a 58-unit apartment building.
Called the Santa Ana Arts Collective, the building at 1666 N. Main Street is an affordable-housing project for OC artists.
