More than one year after breaking ground in Downtown San Pedro, wood framing is rising for a new mixed-use affordable housing complex from non-profit developers Linc Housing and National CORE.
The project, named 456 West for its address at 456 W. 9th Street, replaces a city-owned parking lot with a new apartment complex that will feature 91 residential units reserved for households earning between 30 and 80 percent of the area median income level (AMI). At street-level, plans call for a new clinic operated by Harbor Community Health Centers which will offer primary care, behavioral health, and pharmacy services.
RRM Design Group is the architect behind 456 West, which is depicted in an elevation plan as a contemporary six-story building. The project will include a mix of studio, one-, two-, and three-bedroom dwellings, as well as amenities such as a computer lab, a gym, play areas, a picnic terrace, and a community lawn.
According to a 2020 staff report to the California Tax Credit Allocation Committee, the roughly $53.8-million project is being funded by a $29-million loan from Bank of America, over $10.8 million in tax credit equity, a land lease from the City of Los Angeles, among other sources. Based on that figure, the per-unit cost for 456 West is approximately $569,000.
The staff report also indicates that rents will start at $548 for a studio unit for households at 30 percent of AMI and run as high as $2,172 per month for a three-bedroom dwelling at 80 percent of AMI.
Completion of 456 West is expected in 2023.
456 West is the third joint venture between Linc Housing and National CORE, which currently have more than 1,200 residential units in construction between them. The two firms recently completed work on a 101-unit complex next to the Crenshaw/LAX Line in Inglewood.
- 456 W 9th Street (Urbanize LA)
Looking for affordable housing? Visit lahousing.lacity.org/aahr and housing.lacounty.gov
California's 2022 state income limits