Last Updated: 5/30/23
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Onsite Supportive Services
Onsite Laundry
Community Room
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89 units for low-income seniors
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89 one-bedroom units
one manager’s unit
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Acquired: 2013
Construction: 2013
Lease-Up: 2013
Live: 2013
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$222,188*
Named after the Father of the Port of Los Angeles, Phineas Banning, Banning Villas is a joint venture between Holos Communities and Preservation Partners Development III (PPD) to rehabilitate an existing at-risk Section 8 project in Wilmington. Originally built in 1976, Banning Villas now offers 89 apartments for low-income seniors, an on-site manager’s apartment, a community recreation building, a large central outdoor space, and multiple laundry facilities.
Holos and PPD’s joint venture helped preserve the project-based Section 8 contract at Banning Villas originally slated for termination in 2013, extending it for an additional 55 years and keeping the property’s affordability levels. PPD provides free food delivery to residents by Cornucopia Services and a social service program for all residents, encouraging resident participation in available neighborhood services.
Banning Villas is located near a couple of supermarkets, including El Super #48 and Food 4 Less. Additionally, several recreational areas are located near Banning Villas, such as the Wilmington YMCA, John Mendez Baseball Park and Drum Barracks Park.
Construction Team
Operations Partners
Capital Funders
Additional Funding Details:
Citibank, N.A.: California Debt Limit Allocation Committee (CDLAC)
Greystone Funding Corporation: HUD 221(d)(4) Loan
Housing Authority of the City of Los Angeles (HACLA): Section 8 Project Based Vouchers (PBV)
Union Bank, N.A.: Federal Home Loan Bank of San Francisco's Affordable Housing Program (FHLB-SF AHP), CA Tax Credit Allocation Committee (TCAC)
How To Get Involved
Join us in the fight to house the houseless and mitigate the impacts of climate change and racial inequity. Whether you are able to donate to support our mission, would like to learn about investing in affordable housing, or have land on which you’d like to develop, we’d like to hear from you. The challenges we face are great, but we can do more together.
Leasing Information
Are you looking for an affordable apartment? Is your small business in need of commercial space? Explore vacancies at our community buildings and learn more about the application process.