Just after one year after breaking ground south of Downtown Los Angeles, wood framing is on the rise for a new affordable housing complex from Hollywood Community Housing Corp.
The Peak Plaza Apartments, located near the A Line at 306 E. Washington Boulevard, will eventually consist of a seven-story building featuring 104 studio, one-, two-, and three-bedroom apartments 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.
A report to the L.A. City Council indicates that the apartments will cater to renters earning between 30 and 60 percent of the area median income level, with the exception of two market-rate manager's units.
FSY Architects is designing the Peak Plaza, which is portrayed in a rendering as a contemporary podium-type building.
The approximately $77 million development is being funded by multiple sources, including tax credit equity and a Measure ULA loan. The City Council report indicates that the per-unit price tag of $740,000 is the result of a decision to provide large apartments, a zoning requirement to include ground-floor community space, and the need to demolish a building.
View looking southwest from Washington BoulevardUrbanize LA
The proposed development is located just east of a site at 220 E. Washington Boulevard where AMCAL recently built a similar 105-unit affordable housing complex.
Other upcoming projects from Hollywood Community Housing include a pair of affordable housing developments slated for city-owned sites along the Wilshire corridor in Santa Monica.
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- Historic South-Central (Urbanize LA)
Looking for affordable housing? Visit lahousing.lacity.org/aahr and housing.lacounty.gov
