A Los Angeles developer that has built two low-income apartment complexes in Fresno has plans for one more - a 92-unit three-story project at Ventura Avenue and 10th Street to accommodate senior citizens.

Advanced Development & Investment, plans 81 studio and 11 two-bedroom apartments atop ground-floor retail and an underground parking structure on less than an acre.

The $23 million project would be financed largely with tax credits available through President Barack Obama's new stimulus package. The land is owned by the city's redevelopment agency.

ADI developed Geneva Village at Elm and Church avenues in southwest Fresno and Tanager Springs near California and Maple avenues in southeast Fresno.

Both of those target large families. This one reaches out to single senior citizens or couples, said Kish Mithaiwala, owner representative of ADI. Rents would average $370 per month for studios and $475 for a two-bedroom apartment.

Mike Dages, the city councilman for the district, supports the development. "With a lot of baby boomers going into retirement, we need places for those who are low income," he said.

Dages also supports the efficient use of land by going up instead of out.
"I see a lot of value in it," added Preston Prince, executive director of the Fresno Housing Authorities. "It's great to see higher-density housing along that corridor."