The construction of Beacon Apartments in Long Beach will result in both the presence of a visually appealing structure at the northern end of downtown Long Beach and an expansion of Century Villages at Cabrillo’s services to the needy, developers said.

“The development is clearly going to transform this intersection with iconic architecture, but also, and perhaps most importantly, it’s going to help address some of the most pressing needs of our community’s most vulnerable residents, including both veterans and seniors who are experiencing homelessness,” said Brian D’Andrea, Century Housing senior vice president, during a ceremonial groundbreaking at the building’s construction site.

Century Villages at Cabrillo is a Century Housing affiliate in West Long Beach providing housing to homeless veterans and others on former Navy property in West Long Beach.

Century Housing Corp., a nonprofit lender and affordable housing developer with offices in Culver City, already started construction of Beacon Apartments in June. Plans for the two-building project call for the construction of about 160 units, with nearly 40 units in the project’s first phase to be reserved for homeless veterans, as well as veterans who may be on the verge of homelessness or who have other special needs, according to city government.

That first phase, designed as a five-story building, is expected to be completed in 2019, D’Andrea said after the event. The complex is located at 1235 Long Beach Blvd.

Designs for Beacon Apartment’s seven-story second phase call for 120 units that will be reserved for low-income seniors.

Long Beach Community Investment Co., a city government body, provided more than $12 million in financing for Beacon Apartments, D’Andrea said.

The project’s full budget totals to some $80 million. Additional financing came from Wells Fargo & Co., the California Community Reinvestment Corp., the Home Depot Foundation, the Federal Home Loan Bank and state government.