Nearly a year after rumblings emerged of a proposed affordable housing development at the corner of Crenshaw and Hyde Park Boulevards, Aedis Real Estate Group and the Foundation for Affordable Housing have formalized their plans with a submission to the City of Los Angeles.
The proposed development, called Hope on Hyde Park, would replace a church with a five-story structure containing 98 apartments - including 97 low-income units and one manager's unit. Project entitlements would rely on development incentives through the Transit Oriented Communities guidelines, which are made available to residential projects that set aside a percentage of units as affordable housing. In the case of the development at 6501 Crenshaw Boulevard, the requested incentives are reductions to required rear- and side- yards.
KTGY Architecture + Planning is designing Hope on Hyde Park, which would be constructed from shipping containers. The building would be arranged to provide a central courtyard, with amenities including a boxing gym and residential services at the ground floor.
As of May 2018, the development team was seeking $25 million in stand bond revenue to finance land acquisition and construction costs for the project. A motion introduced by Councilmember Marqueece Harris-Dawson allowed for a release of the money.
The project is one of a handful of new affordable housing developments planned along the path of the Crenshaw Line, highlighted by the Curve @ West Angeles senior apartments now rising at 54th Street.
The Foundation for Affordable Housing has recently made headlines for another of its projects in Westlake - the Hope on Alvarado - which is also being built with shipping containers. The organization is also planning a project called the Hope on Broadway in South Los Angeles.
- Affordable Housing Proposed in Hyde Park (Urbanize LA)
Interested in finding affordable housing? Visit housing.lacity.org.
