yesterday, the Los Angeles City Council approved the release of up to $58 million in multifamily conduit revenue bonds for the construction of affordable and permanent supportive housing in Pico-Union, Sylmar, and Canoga Park.
The three projects, which would create a combined total of 177 residential units, include:
Berendo Sage
The first, called Berendo Sage, would rise from an empty City-owned property at 1035 S. Berendo Street. Developer West Hollywood Community Housing Corp. has proposed the construction of a six-story edifice containing 42 one-, two-, and three-bedroom dwellings, split between formerly homeless individuals and households earning 60 percent or less than the area median income.
Urban Architecture Lab is designing the contemporary low-rise development, which is poised to receive up to $13.7 million in bond financing - supplementing more than $6 million in Measure HHH funding already allocated to the project.
Silva Crossing
In Sylmar, co-developers Meta Housing Corp. and LA Family Housing are planning a four-story, 56-unit apartment building at a currently vacant site at 12663-12667 N. San Fernando Road.
The project, called Silva Crossing, is being designed by Y&M Architects.
The City Council's vote approved the release of up to $16.2 million in bond financing for the project, which has already been allocated roughly $8.8 million via Proposition HHH and $5.9 million through the County's No Place Like Home program.
Bell Creek Apartments
The final project - the Bell Creek Apartments - would rise at 6940-6948 Owensmouth Avenue in Canoga Park. Meta Housing Corp., which is developing the apartment complex, intends to build a five-story edifice containing 80 one-, two-, and three-bedroom dwellings earmarked for households earning 80 percent or less than the area median income.
The $47.4 million development, designed by Ken Stockton Architects, is slated to receive $28.15 million in bond financing following the City Council vote. The more than $47-million development has already received $11.2 million in funding from Los Angeles County.
Interested in finding affordable housing? Visit housing.lacity.org.
