The Lake House, located at 437 S. Westlake Avenue, consists of a five-story edifice which will feature 63 studio and one-bedroom apartments at completion. Those units are to be priced for households earning 30 percent or less than the area median income.
Per a landing page on the Community Development Partners, the apartments at Lake House will range from 400 to 550 square feet in size.
Architecture Design Collaborative is designing the project, which is depicted in renderings with a contemporary look. Plans show a landscaped rooftop deck overlooking MacArthur Park to the west, as well as a U-shaped footprint opening onto a ground-level courtyard facing Westlake Avenue to the south.
According to a 2021 staff report issued by city staff, the price tag for Lake House is approximately $37 million - or roughly $590,000 per unit. That total is covered by a mix of funding sources, including Measure HHH, Los Angeles County's No Place Like Home program, and $20.1 million in tax-exempt bonds approved by the Los Angeles the City Council.
The project sits one block north of another supportive housing development now under construction near the intersection of Westlake Avenue and Wilshire Boulevard.
Other projects from Community Development Partners, which is based out Newport Beach, include a $52-million development in Santa Ana.
- The Lake House (Urbanize LA)