L.A. City Council approves funding for affordable housing at 306 E. Washington Boulevard

The Los Angeles City Council has voted to approve up to $59.8 million in public funding for the construction of a new permanent supportive housing complex in Historic South-Central.

The bond financing will go toward the construction of Hollywood Community Housing Corp.'s Peak Plaza Apartments, which would rise from a site located at 306 E. Washington Boulevard. Plans call for the construction of a seven-story building featuring 104 studio, one-, two-, and three-bedroom apartments (including two manager's units) above 1,581 square feet of ground-floor commercial space and ground-level parking for 49 vehicles.

Rendering of the Peak Plaza ApartmentsFSY Architects / Hollywood Community Housing Corp.

FSY Architects is designing the proposed development, which is shown in renderings as a contemporary podium-type building located midway between the A Line's Grand/LATTC and San Pedro Stations.

"The seven-story building incorporates community spaces oriented to take in breathtaking views of the city and the San Gabriel mountains," reads a narrative previously released by FSY. "Additionally, the design integrates common spaces into the building façade which faces the critical east-west artery of Washington Blvd. Amenities include a commercial space at the first level, a children's play area, a dog park, indoor and outdoor community spaces and basement resident parking."

According to a staff report, the Peak Plaza development will cater to renters earning between 30 and 60 percent of the area median income level.

306 E. Washington BoulevardGoogle Maps

The total cost of the development, estimated at $77 million, comes from sources including tax credit equity and a Measure ULA loan. The budget translates to a per-unit cost of roughly $740,000, a relatively high figure attributed to the decision to provide large apartments, a zoning requirement to include ground-floor community space, and the need to demolish an existing structure.

The proposed development would rise next door to a site at 220 E. Washington Boulevard where AMCAL recently built a similar 105-unit affordable housing complex.

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