Preserving Community. Protecting Families.
In 2024, Community Preservation Partners (CPP) set out to preserve and reinvest in MCA III Apartments, a two-story affordable housing community located in the heart of South Central Los Angeles, near Baldwin Hills and Crenshaw.
Built in 1958, the property has long served as a source of affordable housing for local families. But decades of deferred maintenance left the 20 homes, 12 one-bedroom and eight two-bedroom units, in need of critical upgrades. Plumbing, electrical, heating, and roofing systems were at the end of their useful lives, while common spaces no longer supported the needs of residents.
The challenges were urgent. With affordability restrictions set to expire in 2024, dozens of households faced the risk of displacement in a neighborhood where the demand for affordable housing far outpaces supply. MCA III’s waitlist underscored the pressing need to preserve these homes and stabilize the community.
Our Mission: Rebuild and Revitalize
CPP acquired MCA III Apartments with a $13.1 million investment, including a $7.25 million purchase price and $163,000 per-unit renovation budget. This marked CPP’s seventh community in the greater Los Angeles region.
The rehabilitation plan blends essential system replacements with resident-focused enhancements designed to provide safety, comfort, and dignity for families.
Planned upgrades include:
Beyond physical improvements, CPP partnered with LifeSTEPS to bring on-site resident services, including health and wellness programs, adult education, and skill-building workshops tailored to household needs.
Financing the Future
Preserving affordability in Los Angeles requires strong partnerships. CPP worked with the California Tax Credit Allocation Committee, which awarded 9% Low-Income Housing Tax Credits (LIHTC). U.S. Bank served as both equity partner and construction lender, while permanent financing will be provided by KeyBank through a Freddie Mac product.
To secure long-term affordability, CPP renewed the Section 8 Housing Assistance Payment contract for 20 years. All homes will remain reserved for households earning between 30% and 60% of Area Median Income (AMI).
A Community Reimagined
Renovations are slated for completion in April 2025. Once finished, MCA III Apartments will reemerge as a modern, energy-efficient, and family-centered affordable housing community.
The transformation extends beyond bricks and mortar. Through new amenities, improved systems, and on-site supportive services, residents will benefit from healthier, safer, and more dignified homes. Most importantly, MCA III Apartments will continue to anchor families in a vibrant Los Angeles neighborhood, protecting affordability and opportunity for at least the next two decades.
