At its meeting scheduled for May 12, the Los Angeles City Council is expected to vote to approve the release of up to $68 million in bond funding for proposed affordable housing projects in Sun Valley, Pico-Union, and South Los Angeles.
In the northeast San Fernando Valley, non-profit developer Many Mansions is seeking roughly $12.1 million in multifamily housing revenue bonds for the development of Sun King, a project which would rise at 9190 N. Telfair Avenue. Plans call for a four-story structure - designed by LOHA - which would feature 26 apartments.
The project was previously awarded $2.4 million in state funding.
Miles away in Pico-Union, Wakeland Housing and Community Development Corp. could receive up to $21 million in multifamily housing revenue bonds for the construction of The Quincy, a proposed project at 2652-2662 W. Pico Boulevard. Plans call for the construction of a multi-story building containing 54 apartments.
The more than $33-million development is already partially funding via Los Angeles County's No Place Like Home program.
Roughly three blocks northwest, West Hollywood Community Housing Corp. is planning to develop a vacant property at 1047-1055 S. Mariposa Avenue into a seven-story, 41-unit affordable housing complex. The project, called Mariposa Lily, could receive up to $16.2 million in multifamily housing revenue bonds to finance construction.
The HED-designed development has already been allotted $4.7 million in Los Angeles County No Place Like Home Funds.
In South Los Angeles, a proposed 57-unit affordable housing development at 5501-5511 S. Main Street could receive up to $18.5 million in multifamily housing revenue bonds.
The project's sponsor, an entity called Main 50 Housing, LP, is jointly managed by Western Community Housing and Highridge Costa Development.
