An affordable housing complex catering to families and chronically homeless veterans is now rising in the Montecito Heights neighborhood of Northeast Los Angeles.

The $20-million project, known as the Marmion Way Apartments, is being developed by Palm Communities, an Irvine-based firm which specializes in affordable housing.  The four-story building is replacing a .7-acre lot which adjoins the Gold Line's Heritage Square Station.

According to a staff report from the California State Treasurer's Office, the project will offer 48 one-, two- and three-bedroom apartments reserved for families and individuals making between 30% and 60% of the Los Angles Median Household Income.  Rents in the Marmion Way Apartments would range from as little as $458 for a one-bedroom unit to a maximum of $1,272 for a three-bedroom unit.

Architectural renderings depict the project as a typical apartment block, featuring a pitched roof and exterior balconies.

Construction of the apartments began in May 2015, but a precise completion date is currently unknown.