Following a vote by the Board of Supervisors, the Los Angeles County Land Bank Pilot Program has been approved to pay $4.3 million to acquire a parking lot in Westlake for redevelopment with affordable housing.
The approximately 27,641-square-foot site, located at 2615 W. 8th Street and 741 S. Coronado Street, is located southwest of MacArthur Park and just east of Hoover Street. The County anticipates that an approximately 78-foot-tall building consisting of 160 residential units, 1,400 square feet of community-serving retail space, and an approximately 2,700-square-foot community room or amenity space will be built at this location.
A staff report does not specify the exact unit mix or target affordability level for the project.
Following the solicitation of a developer for the property, construction is projected to take approximately two years.
“Today’s action is a vital step in the County’s commitment to maximizing new opportunities for affordable housing while protecting some of our most vulnerable communities,” said Los Angeles County Supervisor Hilda Solis in a statement. “By moving forward with the Land Bank Pilot Program, the County is making a long-term investment in neighborhoods facing displacement and ensuring housing development is planned, strategic and connected to transit and community needs.”
The acquisition is one of two through the Land Bank Pilot Program, including a site near the A Line in Downtown Long Beach which is also slated for redevelopment with 160 homes and commercial uses.
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- Long Beach (Urbanize LA)
Looking for affordable housing? Visit lahousing.lacity.org/aahr and housing.lacounty.gov
