A property near the Santa Monica Public Library could be redeveloped with affordable housing, according to an item submitted to be considered at the April 18 meeting of the Santa Monica Housing Commission.
The project site, located at 1333 7th Street, is currently improved with a single-story dentists office and a surface parking lot. Mass Equities, a Santa Monica-based developer, is acquiring the property on behalf of the Community Corporation of Santa Monica, which intends to raze the existing uses to construct a 36-unit apartment complex for low-income households.
Michael W. Folonis Architects is designing the proposed apartment building.
Mass Equities is facilitating the project to satisfy the affordable housing requirements imposed on two market-rate projects the company plans nearby. A six-story, 65-unit development as 1437 7th Street is required to set-aside 13 units for low-income households, while a 40-unit project at 525 Colorado Boulevard is required to provide 8 subsidized affordable units.
In order to place the affordable units in an off-site location, Mass Equities is required to provide a total of 27 units - a number that is more than satisfied by the proposed development from Community Corp.
A timeline for the project has not been specified.
A block south, a mixed-use development featuring market-rate apartments and retail is planned for a property adjacent to the library.
- Santa Monica (Urbanize LA)