A half-year after beginning construction, the concrete podium of a new micro-unit apartment building is now three levels above ground near Hollywood and Highland.
The project, which is being developed by Housing Diversity Corporation, is rising from a roughly 8,000-square-foot property at the southwest corner of Hawthorn Avenue and McCadden Place. Plans call for an eight-story building containing 69 apartments and no on-site parking.
The project, which was entitled with Transit Oriented Communities incentives, will include eight units of deed-restricted extremely low-income affordable housing. However, the market-rate apartments - which will average 375 square feet in size - are also intended to offer more affordable price points than other new projects in the Hollywood community.
Housing Diversity Corp. is targeting the development as moderate-income households - those earning up to 120 percent of the area median income - with monthly rents expected to start below $2,000 per month.
Steinberg Hart is designing the project, which will stack five levels of wood-frame construction above the concrete podium. Plans call for private balconies on most units, in addition to communal amenities such as a rooftop deck, a lounge, and co-working space.
The project site is surrounded by a slew of other large mixed-use and multifamily residential developments, including Mill Creek Residential Trust's Modera Hollywood apartments and a proposed modular housing complex that is slated to replace a narrow parking lot on Las Palmas Avenue.
Housing Diversity Corp., which is headquartered in Seattle, is developing two similar micro-unit apartment buildings on Flower Street and Grand Avenue in Downtown Los Angeles.
