In a consent calendar vote taken yesterday, the Los Angeles City Council approved the issuance of more than $24 million tax-exempt multifamily conduit revenue bonds to go toward the construction of affordable and permanent supportive housing developments in Pico-Union and Van Nuys.
In Pico-Union, non-profit developer West Hollywood Community Housing Corp. is slated for up to $13 million in bond funding for its Mariposa Lily apartments - which are slated for an empty city-owned lot at 1055 S. Mariposa Avenue. The project, which was approved is 2019, calls for the construction of a new seven-story building featuring 41 studio, one-, two-, and three-bedroom apartments - half of which would be reserved for formerly unhoused residents.
HED is designing Mariposa Lily, which would have an Art Deco-inspired facade composed of painted plaster and aluminum panels.
Rents at the building, which will cater to households earning between 30 and 60 percent of the area median income, will range from as low as $591 per month for a studio to as high as $1,521 to $1,757 per month for higher-income households in three-bedroom units.
Besides the bond funding, the $25.4-million project will be financed using city and county sources, according to a June 2020 staff report to the California Tax Credit Allocation Committee.
West Hollywood Community Housing recently broke ground on a similar affordable and supportive housing complex - Berendo Sage - on another city-owned site located four blocks east.
In Van Nuys, developers Daylight Community Development, the Downtown Women's Center, and Decro Corp. are poised to receive more than $11 million in bond funding for the construction of Oatsie's Place, a proposed project at 16015 W. Sherman Way.
Studio One Eleven is designing the four-story, 46-unit apartment building, which will house women who have previously experienced homelessness and survivors of domestic violence. Plans also call for on-site supportive services and open space amenities for residents.
A mix of studio, one-, and two-bedroom dwellings are planned in the roughly $18.7-million project, per a staff report.
The project is funded in part through the City of Los Angeles' Measure HHH challenge program, which charged developers with finding new and less costly methods of delivering permanent supportive housing. In pursuit of that goal, the Oatsie's Place development will be composed of prefabricated modular units.
Looking for affordable housing? Visit lahousing.lacity.org/aahr