The City of Los Angeles is preparing to issue bond financing for two affordable housing developments in Historic Filipinotown and Hollywood, according to motions introduced yesterday by City Councilmember Mitch O'Farrell.
Non-profit developer LINC Housing Corporation has requested $24.8 million through the City of Los Angeles' Housing & Community Investment Department for the construction of its HiFi Collective project, which would rise at 3200 W. Temple Street. The proposed five-story building, which would replace the offices of the non-profit organization Search to Involve Pilipino Americans, would feature 64 residential units with 6,475 square feet of ground-floor retail space.
LINC Housing has requested Transit Oriented Communities affordable housing incentives for the project, in addition to streamlined approvals as permitted by the legislation SB 35.
In Hollywood, PATH Ventures has requested $31.2 million in bond financing for its the PATH Villas Hollywood development at 5627 W. Fernwood Avenue.
The proposed development, designed by the Architects Collective, would consist of a six-story building featuring 60 apartments - including 59 uits of permanent supportive housing - with parking for 14 vehicles.
Both motions are slated for consideration at a future meeting of the City Council.
