Panel Approves Bonds for Calabasas Project
The Los Angeles County Housing Authority was granted approval Tuesday by the Board of Supervisors to issue a maximum of $60 million in housing revenue bonds to build up to 765 apartment units on Las Virgenes Road at Thousand Oaks Boulevard in Calabasas.
Permits allowing construction of the apartments were approved by supervisors earlier this month. Nearby homeowners had opposed the project, saying the 51-acre site was prone to flooding. The bonds will guarantee developer Jack Bravo a low-interest construction loan if he reserves 160 units for low- and moderate-income families.
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