Lantern Woods Apartments
425 South 1st Avenue & 434 South 2nd Avenue
Lantern Woods Apartments is an affordable community development project that rehabilitated two properties originally built in the 1950s. Substantial rehabilitation transformed the blighted property into a modern, affordable living space for local residents. The building provides attractive, quality housing for 28 families or individuals whose incomes are at or below 50% of the area median income.
The renovated project includes new sewer, plumbing, gas, electrical, and heating and cooling systems. All apartments have new kitchen cabinets, appliances, and bathroom fixtures. Common area improvements include a swimming pool, community laundry room, property manager’s office, resident lounge, covered parking spaces, restricted access entrances, perimeter security cameras, barbeque grills, picnic benches, and landscaped courtyards. Beacon Property Management provides a full time, on-site property manager who is responsible for day-to-day operations. CBH works with local nonprofit organizations, faith communities, and public agencies to coordinate on-site activities for residents and connect residents to supportive services in the area.
At A Glance
|General Contractor:||Dreyfuss Construction|
|Property Management:||Beacon Property Management|
|Completion Date:||May 2012|
|Apartment Info:||16 studios, 4 one-bedrooms, 8 two-bedrooms, and 1 manager unit|
|Rental Rates:||50% of the area median income|
|Apartment Size:||Approximately 350-800 sq. ft.|
|Funding Sources:||Neighborhood Stabilization Program, HOME Funds|
|Total development cost:||$4,900,000|