In Eagle Rock, the finish line approaches for a new affordable housing complex from DDCM and Riverside Charitable Corporation.
Called Colorado East, the project consists of five-story building a roughly 15,000-square-foot site at 2451 Colorado Boulevard. At completion, the property will offer 41 apartments for rent by families making 30 percent or less than the area median income, with the exception of one manager's unit.
The project was initially conceived as a mixed-income development, featuring 25 affordable units with 16 market rate units and ground-floor commercial space.
2451 Colorado BoulevardGoogle Maps
The new development is the beneficiary of a recent vote by the L.A. City Council vote to authorize the release of an additional $2.1 million in state bonds for the project - supplemental funding that was required to account for construction cost increases during the project's build out period. Prior to that, more than $15 million in taxable and tax-exempt bond financing had been allotted to the project.
The name Colorado East is a reference to the abutting Colorado West apartments, which was also built by DDCM in 2006.
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- 2451 Colorado Boulevard (Urbanize LA)
