Construction has commenced for a new affordable housing complex on the outskirts of Downtown Los Angeles, developer Hollywood Community Housing Corp. announced via social media.
The Peak Plaza Apartments, which will rise from an A Line-adjacent site at 306 E. Washington Boulevard, calls for the construction of a seven-story building featuring 104 studio, one-, two-, and three-bedroom apartments above 1,581 square feet of ground-floor commercial space and ground-level parking for 49 vehicles.
Rendering of the Peak Plaza ApartmentsFSY Architects / Hollywood Community Housing Corp.
According to a staff report to the Los Angeles City Council, the Peak Plaza development will cater to renters earning between 30 and 60 percent of the area median income level. That excludes two market-rate units to be reserved for on-site managers.
FSY Architects is designing the proposed development, which is depicted in renderings as a contemporary podium-type building.
The approximately $77 million development is being funded by sources including tax credit equity and a Measure ULA loan. Its per-unit cost of approximately $740,000 has been attributed to the decision to provide large apartments, a zoning requirement to include ground-floor community space, and the need to demolish a building.
306 E. Washington BoulevardGoogle Maps
The proposed development would rise next door to a site at 220 E. Washington Boulevard where AMCAL recently built a similar 105-unit affordable housing complex.
Other upcoming projects from Hollywood Community Housing include a pair of affordable housing developments slated for city-owned sites along the Wilshire corridor in Santa Monica.
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- Historic South-Central (Urbanize LA)
Looking for affordable housing? Visit lahousing.lacity.org/aahr and housing.lacounty.gov
