In a consent calendar vote, the Los Angeles City Council approved the issuance of more than $42 million in multifamily housing revenue bonds to Domus Development for the construction of new affordable and permanent supportive housing in the San Fernando Valley and Koreatown.
The first project, called the Talisa Apartments, would rise at the northeast corner of Van Nuys Boulevard and Plummer Street in Panorama City. Plans call for the construction of a four-story building featuring 49 one-, two-, and three-bedroom apartments - reserved for very low- and extremely low-income households - above ground-floor parking for 30 vehicles.
Per a staff report issued by the Housing and Community Investment Department, L.A. Family Housing Corp. has been tapped to provide on-site services for the Talisa development, which will target homeless families, individuals with mental illness, and victims of domestic violence and sex trafficking.
The contemporary low-rise structure is being designed by FSY Architects.
The Council’s vote approves slightly over $17 million in bond financing for the project, which has a total estimated cost of $32.8 million.
The second development, the Serenity Apartments, would replace three vacant duplexes at 923-937 S. Kenmore Avenue in Koreatown with a six-story building featuring 75 apartments above ground-level parking. Save for a two-bedroom manager's unit, the proposed studio and one-bedroom apartments would cater to homeless seniors aged 62 and older.
Like the Talisa development, Serenity is being designed by FSY Architects.
A total of $25 million in multifamily housing revenue bonds has been allocated to the project, which has a total estimated budget of $48.3 million.
Domus Development, in addition to its projects in on Van Nuys Boulevard and Kenmore Avenue, is also developing affordable and supportive housing in Echo Park and on another property in Koreatown.
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