Construction has commenced for new affordable housing in Florence, according to permits issued by the Los Angeles Department of Building and Safety.
The project, which comes from Los Angeles-based developer Eleos, will rise from a previously vacant lot located at 7655 S. San Pedro Street. Plans call for a four-story building featuring 40 one- and two-bedroom apartments without on-site parking.
Project entitlements include Transit Oriented Communities incentives, which permit a larger structure than would otherwise be allowed by zoning rules. Outside of a mandatory manager's unit, of the apartments are to be rented to low-, very low-, and extremely low-income households, making it eligible for the incentives.
A landing page from the Eleos website names the project "Pandora." A rendering portrays a contemporary low-rise edifice.
Eleos reportedly acquired the site in 2021 for $950,000.
The developer's other privately-financed affordable housing developments include projects in South Los Angeles and Boyle Heights.
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Looking for affordable housing? Visit lahousing.lacity.org/aahr and housing.lacounty.gov
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