After 10 months of construction, wood framing is beginning to sprout above the concrete podium of the RISE Apartments near Exposition Park.

The $32-million development, located at 4050 S. Figueroa Street, will consist of a five-story edifice 57 apartments - including one manager's unit and 56 units of permanent supportive housing, priced for homeless individuals earning 30 to 50 percent of the area median income.  Plans also call for 3,400 square feet of ground-floor office space.

Egan Simon Architecture is designing the apartment complex, which is depicted as a contemporary low-rise structure.  Common amenities will include a courtyard, roof terraces, and a community room.

The RISE project is a joint venture between SRO Housing Corp. and Highridge Costa Development, with funding through sources including low-income housing tax credits and Measure HHH.

The apartment complex replaces a building formerly occupied by RISE Financial Pathways, a non-profit commercial lender which serves low- and moderate-income communities in Los Angeles County.

Interested in finding affordable housing? Visit