BURBANK : Construction Begins on Verdugo Tower
Burbank city officials on Monday celebrated the groundbreaking of Verdugo Tower, a 121-unit apartment building for needy seniors, which will be built with a $9.9-million loan from the federal Department of Housing and Urban Development.
The building, to be located at the northwest corner of Verdugo Avenue and San Fernando Road, is being built by the nonprofit corporation Verdugo Tower Inc., which also runs three other senior housing complexes in Burbank.
To be eligible for an apartment, applicants must be at least 62 years old and meet HUD income limitations and other requirements. Rent will equal 30% of the residents’ adjusted gross income.
Construction of the eight-story building, which will have a 68-space underground parking garage and private balconies for some units, is expected to be finished in mid-1995. Project officials said they expect a flood of applications for apartments. A public drawing will be held a few months before the building opens.
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