San Diego-based real estate firm Wakeland Housing & Development Corporation has broken ground on its latest Los Angeles area development targeted at formerly unhoused seniors.
In Pico-Union, construction is underway for the "The Quincy," a new apartment complex located at 2652-2662 Pico Boulevard. The project, which replaced two single-story commercial buildings, will consist of a new four-story edifice containing 54 apartments, including 53 permanent supportive housing units reserved for senior households earning no more than 50 percent of the area median income level.
Wakeland is building The Quincy using $16.8 million in tax-exempt bonds, accounting for roughly half of the total $33.6-million estimated budget.
Rents for the studio apartments are expected to be set at $591 per month, according to an April 2021 staff report to the California Tax Credit Allocation Committee.
FSY Architects is designing The Quincy, which is depicted in an elevation plan as a contemporary low-rise structure.
- 2652 Pico Boulevard (Urbanize LA)