With construction financing now in hand, the Jonathan Rose Companies has announced the imminent start of construction of a new affordable housing complex at 1999 W. 3rd Street - the organization's first project on the West Coast.
The $74-million, 100,000-square-foot project, which will rise just east of Alvarado Street, calls for the construction of an seven-story building featuring 137 studio, one-, and two-bedroom apartments reserved for households earning between 30 and 80 percent of the area median income level.
“Like much of the nation, Los Angeles continues to face a serious housing crisis – and building new high-quality, affordable housing is key to the solution,” said Jonathan Rose Companies founder Jonathan Rose in a news release. “As a Community of Opportunity development, 1999 W 3rd St. will be more than just a place to live, but a place to flourish, with resources that support residents’ economic security and mobility. We thank Wakeland Housing and Development Corporation for being a steadfast community partner and look forward to working with them as we see this exciting development break ground.”
Brooks + Scarpa is designing 1999 W. 3rd Street, highlighting a team that also includes Tina Chee Landscape Studio and Argento / Graham. The planned building is described as featuring 10,000 square feet of open space amenities, including fitness rooms, lounges, and workspaces. Plans also call for a breezeway that would connect to the Miramar Towers, and existing housing complex which sits within the same property.
Construction of 1999 W. 3rd Street, a joint venture with Wakeland Housing and Development Corporation, is set to commence in December and conclude by January 2025.
The existing Miramar Towers building, completed in the 1970s, features 157 homes. The new project was enabled by a lot split of the surrounding property, which allows the applicant to take advantage of unused development rights, as well as land now used as a grass lawn.
- 1917-2005 W 3rd Street (Urbanize LA)