By Nick Diamantides
Staff Writer
Low- and moderate-income families and individuals now have the opportunity to buy a condominium in Long Beach. The condos are for sale at Olive Court, a project recently completed by the City of Long Beach and Livable Places, a Los Angeles-based nonprofit corporation. The 68,000-square foot complex is on the corner of Dayman Street and Long Beach Boulevard, approximately a block north of Pacific Coast Highway. It contains 58 residences of different sizes and designs.
Last Saturday, nearly 100 people attended the development’s grand opening celebration and ribbon-cutting ceremony. City officials and others involved in the project addressed the audience.
“This is a terrific day. What was once a blighted commercial area is now a vibrant residential community and that is what redevelopment is all about,” said Long Beach Mayor Bob Foster. “We all know that affordable housing is critical to Long Beach. Our population is growing and our housing stock is not keeping pace with that. This is exactly the kind of development that we need.”
Foster noted that the condos are available with prices affordable to people with a household income of from $25,900 to $89,500. “This really enhances our city,” he said. “It gives people the opportunity to own their own homes and have a stake in the community.”
Congresswoman Laura Richardson (37th District), formerly the Long Beach City Councilmember for the 6th District also said she was pleased by the development. “I remember coming here for the city about 10 years ago and thinking that Long Beach Boulevard used to be such a vibrant aspect of the city,” she said, noting that when the car dealerships moved out of the area in the late 1980s, Long Beach Boulevard began to deteriorate.
Richardson praised Livable Places for its commitment to developing quality housing in that part of Long Beach. “They wanted to do it not only to provide affordable housing, but also to transform the community,” she said.
Present 6th District Councilman Dee Andrews echoed Richardson. “Many people in Long Beach wondered if this project could ever happen and are now amazed that it did,” he added. “But we’re not stopping here; we’re on the move (to bring more such developments to Long Beach).”
Andrews noted that he was very glad to see a former blighted parcel transformed into a place that offered Central Long Beach residents a chance to own their own home. “You don’t realize what it means when someone can say ‘It’s mine,'” he said. “They will take care of it because they have invested in it.”
Ryan Lehman, executive director of Livable Places noted that Long Beach Boulevard had been in decline for about 20 years, but where others saw neglect, Livable Places saw great potential.
“We saw a neighborhood with good bones, starting with the light rail, which gives residents front door alternatives to commuting in traffic,” he said, adding that the neighborhood’s proximity to grocery stores, other services and downtown Long Beach presented an opportunity to develop a truly great place for working people to live.
Olive Court offers a mix of townhouses and flats between 800 and 1,400 square feet. Forty-four of the units are affordable to families with annual incomes between $24,000 and $67,000. To date, 26 units have been sold and 32 are still available.
Lehman praised the City of Long Beach for providing $6 million in subsidies, which enabled workforce families to purchase the homes. He added that the project has incorporated green building principals such as energy conservation features and low-water-use landscaping.
Because of the mortgage meltdown, it had been harder for moderate-income people to qualify for mortgage loans. The city helped overcome that obstacle by arranging loans through a complex layered financing plan.
“At first, I didn’t think it was possible for me to own a home, said Donny Santina, who recently moved into one of the units with his family. “But Long Beach and Livable Places made it possible for me and my family to own a home. That’s everybody’s dream and ours came true.”
Doris Cummings, another homebuyer, agreed. “I feel extremely lucky to have been able to find an affordable home in the Los Angeles County area,” she said. “Even though the prices of homes are falling, they were still out of my price range.”
Nine-year-old Ruby Arrington said she especially liked the three spacious courts in the complex. “I love it because you can ride your bike and feel safe in your own court,” she said.
After the speeches, testimonials, and ribbon cutting, visitors were treated to live music, food and tours of the available units.
For more information on Olive Court, phone toll-free (866) 654-3300 or visit www.OliveCourt.com.
