New Directions Sepulveda is the adaptive reuse of two vacant buildings on a 160-acre Veterans Affairs campus in Los Angeles’ San Fernando Valley.
A Community of Friends spent several years overcoming legal hurdles to develop a “veterans only” project. The developer spearheaded initiatives at both the state and federal levels to ensure the project could exclusively serve vets.
The $62.4 million development utilizes two nontraditional affordable housing funding sources, a Veterans Affairs (VA) enhanced-use lease and a VA capital contribution.
New Directions, an organization that specializes in assisting veterans, will provide comprehensive services to the residents.
All units will be subsidized by either project-based Sec. 8 or HUD-VASH vouchers.