October 3, 2012 (MMD Newswire) -- AMCAL Multi-Housing, one of California's leading builders of workforce and affordable housing, LifeSTEPS, AMCAL's non-profit partner, and Pacific Western Bank, who handles AMCAL's predevelopment financing, together hosted the second annual "Partnership for H.O.P.E." (Housing Opportunities and Personal Empowerment) event in Los Angeles. The Partnership for H.O.P.E. goal is to provide housing opportunities, personal empowerment, valuable education programs and scholarships, and intervention services that help families maintain housing. 100% of funds raised from this event go directly to AMCAL residents. "AMCAL, PWB, and LifeSTEPS have a long history of working together for the betterment of workforce housing residents throughout California, " says Percival Vaz, chief executive officer of AMCAL.
"Our partnership in this effort is yet another opportunity for us to attract support - and recognition - for the communities and individuals we serve." The event was held on September 8th at Avenue 26, ACMAL's four-community master plan in Andalucía Heights in Los Angeles, and included food, live music, a sponsored luncheon, and a bevy of family activities. This site, formerly abandoned warehouses, is now home to families and seniors in need of affordable housing and 165 condominiums. "I'm amazed that a partner like AMCAL can create positive changes in the lives of so many people. And, they do it in such a way that there is a true return on investment as the scholarship recipients learn how to heal others and give back to a larger society," says Beth Southorn, executive director of LifeSTEPS. Pacific Western Bank, this year's Platinum Sponsor, presented a $25,000 grant to the H.O.P.E. Fund.
"We are thrilled to be part of the H.O.P.E. event," says Jared M. Wolff, President-Los Angeles Region at Pacific Western Bank. "Our partnership with AMCAL on a multitude of affordable communities has created more sustainable living environments for California residents." The Partnership for H.O.P.E. Community Fair and Fundraiser also included a number of other corporate sponsors, such as: GOLD - $10,000 AMCAL Multi-Housing SILVER - $5000 Sullivan Curtis Monroe Chase FPI Management, Inc. US Bank Western Seniors Housing Rovner Construction Union Bank BRONZE - $2500 Hudson Housing Capital Las Palmas Foundation Novogradac and Co. Bank of America California Bank & Trust Cirrus Asset Management Enterprise Wash Multifamily Laundry Systems Criterion Brock Art Deck Angus Concrete Holiday Carpet Portrait Homes Southland Lighting Green Dinosaur Pacific Coast Civil California Bank & Trust In addition to multiple apartment developments for low-income families and seniors, AMCAL is currently under construction on many new tax-credit developments that were awarded between 2009 and 2012.
These developments include Argyle and Terracina, both multi-family apartment complex's in Los Angeles; Mosaic, a mixed-use workforce development in Los Angeles; Montecito Terraces, a Los Angeles development that received American Recovery and Reinvestment Act federal stimulus funds; Sunrise, a senior apartment development located in South Los Angeles; Mercado, a 60-unit family development in Perris, and Linda Vista, a senior housing community located on a historic property in the Boyle Heights area of Los Angeles. Additionally, AMCAL is also building Mission Villas, an 85-unit community in San Diego directly adjacent to the Washington Street trolley station. Tax-credit investors include Bank of America Merrill Lynch, JP Morgan Chase, Hudson Housing Capital and Union Bank of California. For more information on AMCAL Multi-Housing, please visit www.amcalhousing.com.
ABOUT AMCAL HOUSING, INC:
Based in Agoura Hills, CA, AMCAL Multi-Housing, Inc. has developed quality housing throughout California since 1978. In recent years, AMCAL has focused on the workforce -housing sector, including family and senior apartments, as well as for-sale housing in emerging urban neighborhoods. Nationally recognized for its expertise in workforce housing, AMCAL has received honors from leading magazines and associations including Multifamily Executive for Editors' Choice and Project of the Year - Best Mixed-Income, as well as NAHB for Innovation in Workforce Housing. The value of AMCAL developments currently under construction exceeds $136 million. Since 2003, AMCAL has been awarded over $392 million in low-income housing tax credits. Since 1995, AMCAL and AMCAL General Contractors have built 45 workforce housing developments, representing over 3751 units. As a third party general contractor, AMCAL General Contractors can provide developers with the resources and leadership they need to build homes on time and within budget. Additionally, AMCAL is currently looking for new land for affordable multi-family developments of 40+ units. For land acquisition information, please contact Mark Morgan (mmorgan@amcalhousing.com or 818-706-0694 x176). For more information on AMCAL, please visit www.amcalhousing.com.
ABOUT LifeSTEPS:
Founded in 1996, Life Skills Training & Educational Programs' (LifeSTEPS) mission is to provide effective educational and supportive services to maximize the strengths of individuals and build resilient communities. LifeSTEPS is the single largest provider of social services to the residents of affordable housing communities in California. Statewide, we serve families, seniors and individuals in 205 communities, providing over 75,000 people in 23,000 households access to our strength based, resident-centered services. LifeSTEPS is firmly committed to helping people rise above impoverished environments to become self-sufficient, experience well-being, and break the devastating cycle of poverty, helping create healthier, happier and more sustainable lives through case management, adult education, senior age-in-place services, and after school programs. Additionally, the Client Emergency Assistance program provides a tangible safety net for residents at danger of not paying their rent due to a financial crisis. Since 2010, 87% of the residents receiving this assistance have maintained their current housing for 12-months or longer. In 2012 LifeSTEPS was inducted into the California Housing Hall of Fame. For more information, please visit www.lifestepsusa.org.
ABOUT PACIFIC WESTERN BANK:
PacWest Bancorp ("PacWest") is a bank holding company with $5.3 billion in assets as of June 30, 2012, with one wholly owned banking subsidiary, Pacific Western Bank ("Pacific Western"). Through 66 full-service, community-banking branches, Pacific Western provides commercial banking services, including real estate, construction and commercial loans, to small and medium-sized businesses. Pacific Western's branches are located throughout California in Los Angeles, Orange, Riverside, San Bernardino, Santa Barbara, San Diego, San Francisco, San Luis Obispo, San Mateo and Ventura Counties. Through its subsidiaries, BFI Business Finance and Celtic Capital Corporation, and its divisions First Community Financial and Pacific Western Equipment Finance, Pacific Western also provides working capital financing and equipment leasing to growing companies located throughout the United States, with a focus on the Southwestern U.S., primarily in Arizona, California, Utah and Texas. Additional information regarding PacWest Bancorp is available on the Internet at www.pacwestbancorp.com. Information regarding Pacific Western Bank is also available on the Internet at www.pacificwesternbank.com.
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