Construction is underway for a new senior affordable housing development at 21010 Vanowen Street in Canoga Park. The project, named 21010 Vanowen, is planned on a 2.14-acre site within the Warner Center area. Y&M Architects is responsible for the design.
The development will create 395 apartments in one new residential building. The housing program includes 391 income-restricted rental units and four unrestricted manager’s units. Plans call for 365 one-bedroom apartments and 30 two-bedroom apartments. The apartments will serve households earning between 30 percent and 70 percent of area median income. The affordability mix includes 43 units at 30 percent AMI, 36 units at 50 percent AMI, 147 units at 60 percent AMI, and 165 units at 70 percent AMI.
A rendering shows a six-story building with brick veneer, large rectangular windows, landscaped street frontages, bicycle parking, and a corner entry marked for senior living.
The project is being developed by Meta Development, LLC, in partnership with Foundation for Affordable Housing II, Inc. The staff report lists 21010 Vanowen, LP as the applicant and California Municipal Finance Authority as the bond issuer.
The project has received a recommendation for $5.9 million in annual federal tax credits and $57.5 million in tax-exempt bond allocation. The overall development budget is listed at approximately $124.7 million, or $315,797 per unit. Construction financing sources include tax-exempt, recycled tax-exempt, and taxable financing from Citibank, along with deferred costs, deferred developer fee, and tax credit equity. Solari Enterprises, Inc. is listed as the management agent.
The staff report anticipates construction beginning in January 2026 and completion in January 2028. The project adds another large affordable housing development to Warner Center, where Meta is also advancing residential projects on Oxnard Street and De Soto Avenue.
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