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establishing the Developer's capacity to undertake a project that is requesting HOME Program <br />assistance. <br />Since 1993, the Developer has built an asset portfolio that includes the development of <br />and/or ownership interest in more than 8,700 housing units in more than 105 affordable <br />housing developments. <br />The Developer has 25 years of experience providing quality affordable housing. <br />The Developer has affirmed that none of their projects have been placed into <br />foreclosure or are at risk of foreclosure. <br />The Developer has successfully completed three similar projects in Southern California in the <br />past 5 years. <br />The Metro @ Chinatown SeniorLaRs <br />Completed in 2013, The Metro @ Chinatown Senior Lofts consisted of transforming a blighted <br />and vacant Los Angeles office building into a transit -oriented senior apartment property. The <br />project consists of 123 affordable units restricted to seniors ages 55 and up. The Developer <br />utilized funding sources such as: Tax Credits, HUD Neighborhood Stabilization Program funds, <br />and HCD Transit -Oriented Development Program funds. <br />ACE/121 <br />Completed in 2017, ACE/121 is a modern, 70 -unit affordable apartment community consisting <br />of one-, two-, and three-bedroom units. The project is one of the Developer's family arts <br />colonies and features a modern architectural design that upholds the community's arts -focused <br />concept. Residents of this community can enjoy professional -grade art studio and gallery <br />spaces, while participating in free, professional -level arts activities and classes on an on-going <br />basis. The project includes many community areas, including an art gallery, large community <br />rooms, and a sculpture garden. ACE/121 was funded with Tax Credits and funds from the City <br />of Glendale Housing Authority. <br />PaMlts <br />Completed in 2015, PacArts is the Developer's first family arts colony. The project is located <br />just outside of San Pedro's thriving Downtown Arts District. The project includes 49 affordable <br />apartment units, with six ground floor live/work units, as well as professional -grade art studios <br />and art gallery spaces. Every resident is an artist and was selected based upon submission of <br />artistic works. The project was financed with 9% Tax Credits and funds from the former <br />Community Redevelopment Agency of Los Angeles. <br />City of Santa Ana HOME Subsidy Layering Review: Santa Ana Arts Collective Page 115 <br />25J-37 <br />