Linc Housing Lands up to $79M Bonds Toward SoCal Affordable Housing Construction
Most of the units are earmarked for low-income households and people experiencing homelessness
By Nick Trombola March 10, 2025 3:25 pm
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A nonprofit developer behind an affordable housing project in Los Angeles’ San Fernando Valley has landed a sizable chunk of bond financing from the city to fund the property’s construction.
Long Beach, Calif.-based Linc Housing was awarded up to $78.7 million in bonds from the Housing Authority of the City of Los Angeles (HACLA) earlier this month toward the building of 17100 Victory Boulevard, a 194-unit affordable complex in Lake Balboa. Urbanize first reported the news.
The units will be split between two five-story properties. The vast majority of the units, 144, will be set aside for households earning between 30 and 80 percent of the area median income, with 48 units of supporting housing for people experiencing homelessness. The remaining two market-rate units are for building managers. Plans also call for 1,000 square feet of ground-floor retail space.
The project was approved by the city in 2023, with VTBS Architects designing the building plans.
Representatives for Linc and HACLA did not immediately respond to requests for comment.
Established in 1993, Linc has built up a stable of over 9,000 affordable units across California, with more in the pipeline in addition to the Victory Boulevard project. The developer in February broke ground on Seaglass, a 50-unit supportive housing building in Willowbrook. Once completed in late 2026, Seaglass will join Linc’s other Willowbrook complexes — Springhaven and Mosaic Gardens at Willowbrook, built in 2021 and 2017, respectively. The properties will have 221 units between them.
Standard Communities in November meanwhile paid $1 billion for 60 affordable properties across California, Arizona, Texas and Colorado, owned by a number of different developers including Linc. Standard became a new limited partner of the 150-unit Seasons Senior Apartment Homes in San Juan Capistrano, though Linc’s role as general partner of the property remained unchanged, according to a Linc spokesperson at the time.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
