At its meeting on May 2, the Los Angeles City Council voted to adopt a resolution approving the release of approximately $22.7 million in multifamily housing revenue notes to Century Housing Corp. for the construction of a new affordable and permanent supportive housing complex in Van Nuys.
The proposed project, now known as Villa Vanowen, would consist of three- and four-story buildings on a currently vacant site, creating a total of 64 apartments as well as on-site supportive services.
According to a staff report, the apartments will consist entirely of studio floor plans. The estimated $44.7 million cost for Villa Vanowen amounts to a per-unit price tag of approximately $699,000. That relatively high cost is explained in a staff report as a byproduct of the development's design, which includes five interconnected buildings rather than a single structure which would have reduced costs.
The Architect's Collective has taken over the project from Gensler, which had created the design for the complex.
The proposed apartment complex, originally known as Confianza, did not start out under the stewardship of Century Housing Corp. Skid Row Housing Trust had initiated an entitlement application for the project in 2019, long before the non-profit developer and service provider had run into financial trouble.
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