Ramona Senior Apartments Moves Forward

Ramona_016.jpgMarch was a great month for the 9th District. The groundbreaking of the anticipated Ramona Park Senior Apartments marked the first of many positive initiatives of 2013. This new development will replace the vacant former Farmer's and Merchant's bank located at 3290 E. Artesia Boulevard

The 60-unit senior apartment community will feature a pool, leisure space, 89 parking spaces and many amenities for residents to enjoy. Residents in the area can expect an 18-month construction period.

        

 

Ramona_016.jpgThe development will be financed via a $12.4M loan from Long Beach Housing Development Company, a $6.9M equity contribution from WNC, a $1.5M land seller carry back loan from Farmers and Merchants Bank of Long Beach, and a $1.3M conventional loan from CCRC.

 Click here to view more photos from the groundbreaking ceremony.

 

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