Last month, the Los Angeles County Board of Supervisors voted to spend approximately $2.2 million to acquire a property in Van Nuys for redevelopment with affordable housing.
The purchase, which is made as part of the County's Land Bank Pilot Program, involves a roughly half-acre property at 14430 Vanowen Street. The site could be redeveloped with an affordable, mixed-use project consisting of up to 195 residential units, 1,500 square feet of commercial space, and 3,000 square feet of community and amenity space. The building would be up to 78 feet in height.
The conceptual project would be built over a period of 24 months, according to a staff report. However, no project has been formally proposed at this point in time, nor has a developer for the site been selected.
Located just east of Van Nuys Boulevard, the Vanowen Street property meets a requirement that Land Bank acquisitions be located near new or existing Metro transit lines. In this case, the property sits a short walk from the future East San Fernando Valley light rail line, which is now under construction in the median of Van Nuys.
The Land Bank has also looked to acquire properties near MacArthur Park in Westlake and next to the A Line in Downtown Long Beach for similar mixed-use affordable housing projects.
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- Van Nuys (Urbanize LA)
Looking for affordable housing? Visit lahousing.lacity.org/aahr and housing.lacounty.gov
