Last Updated: 5/30/23
90
Total Units
89
General Affordable units
90%
Tenant Satisfaction
-
Acquired: 2013
Construction: 2013
Lease-Up: 2013
Live: 2013
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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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Preservation Partners
Cornucopia Service
Lorcan O’Herlihy Architects
ALPHA Constuction Co. Inc.
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)
To view our operations partners, construction team, and capital funders, visit our Partners page.
Interested in Leasing? Apply directly in our Leasing page.
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 at-risk Section 8 community in Wilmington. Originally built in 1976, the property has been revitalized to provide 89 affordable apartments for low-income seniors, along with an on-site manager’s residence, a community recreation building, a large central outdoor space, and multiple laundry facilities.
Through this partnership, Holos and PPD preserved the project-based Section 8 contract at Banning Villas—originally slated for termination in 2013—extending it for an additional 55 years and maintaining long-term affordability. PPD also provides free food delivery through Cornucopia Services and a social service program designed to connect residents with local resources and encourage participation in neighborhood activities.
Conveniently located, Banning Villas is near supermarkets including El Super #48 and Food 4 Less, as well as recreational amenities such as the Wilmington YMCA, John Mendez Baseball Park, and Drum Barracks Park.
