Located in the heart of Hollywood, Triangle Square provides affordable living opportunities to seniors, many of whom helped lay the groundwork for the Hollywood neighborhood revitalization that has attracted residents, tourists and movie stars alike.
A joint venture between Gay and Lesbian Elder Housing and McCormack Baron Salazar, the new 104-apartment affordable senior building includes 35 special needs apartments targeted to seniors with HIV/AIDS or homeless/at-risk of homelessness. With 96 one-bedroom apartments and 8 two-bedroom apartments, the universally-designed building includes an interior open courtyard, a 5,000 square foot community room and social service office space.
The $21 million development was financed through a public/private/philanthropic partnership and includes traditional debt combined with low income housing tax credit equity and philanthropic support.
The development is located in the historic core of Hollywood within the Community Redevelopment Agency Project Area. The neighboring area consists of a strong retail corridor, public transportation, market rate housing, office space, theatre and other entertainment venues, within easy walking distance for the senior residents.