Monrovia : Housing for Elderly OKd
The City Council on Tuesday approved a 115-unit senior citizen apartment project to be built on a stretch of abandoned railroad property.
Construction of the Regency Court is to begin Jan. 1 and be completed by 1994. The $6.6-million state project will consist of one- and two-bedroom apartments renting for $400 to $650. Twenty percent of the units will be subsidized at lower rates for low- and moderate-income seniors, said Donald Hopper, Monrovia’s community development director.
The city’s Community Redevelopment Agency loaned the California Housing Finance Authority $361,000 to buy the 3.7-acre site between 5th and Monterey avenues and Olive and Walnut avenues. It was abandoned by Southern Pacific and had become blighted, Hopper said.
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