In a consent calendar vote, the Los Angeles County Board of Supervisors moved yesterda to approve roughly $8 million gap financing for a series of approved, under construction, and recently completed developments that will bring new affordable and permanent supportive housing to El Monte, the City of Los Angeles, and the unincorporated communities of Walnut Park and Altadena.
The first project, Domus Development's Ramona Metro Point apartments in El Monte, is currently under construction at 11016 Ramona Boulevard. Approved plans call for a new four-story building featuring 50 one-, two-, and three-bedroom apartments, restricted to households earning at or below 25 and 40 percent of the Los Angeles area median income for a period of 55 years. Nearly half of the units would be reserved for homeless households where at least one person is living with a severe mental illness.
Existing funding streams for Ramona Metro Point include $5.5 million in No Place Like Home Funds, administered by the L.A. County Development Authority. The Board of Supervisors approved approximately $1.1 million in additional money for the project, raising the total No Place Like Home funding to just over $6.6 million.
The Board also approved $2.5 million in affordable housing trust fund and No Place Like Home funding for the Coalition for Responsible Community Development's 5th and Central project, now underway at 803 E. 5th Street in Downtown Los Angeles. The new contribution raises total L.A. County funding for the project to $17 million.
An adaptive reuse project, 5th and Central will transform three existing buildings into 95 apartments - including one manager's unit and 94 extremely low-income affordable units. Plans call for units averaging just 275 square feet in size, with approximately 9,200 square feet of ground-floor commercial space and 10 parking stalls.
In Walnut Park, developer Hollywood Community Housing Corp., is set to receive $1.6 million in new funding for its new project at 7600 Pacific Avenue. Total County funding for the development is now $5.6 million.
Slated for a property at 7600 Pacific Avenue, plans call for the construction of a four-story complex that will feature 64 one-, two-, and three-bedroom apartments above 48 basement parking spaces. The apartments will be reserved for formerly unhoused and low-income households earning no more than 40 percent of the area median income for a period of 55 years.
Construction is scheduled to commence in March 2023, according to a staff report.
The Board of Supervisors has also provided $1.2 million in additional affordable housing trust fund money to developer Affirmed Housing Group for its Mirador apartments at 2439-2455 Lincoln Avenue in Altadena. The project, set to begin work this month, will feature 71 affordable and supportive housing units.
Additionally, the Board of Supervisors approved a combined $1.6 million in new affordable housing trust fund money for developers East L.A. Community Corp. and Daylight Community Development, which recently wrapped up work on the Rosa de Castilla apartments and Watts Works projects, respectively. The two projects feature a combined total of 110 apartments in the El Sereno and Watts neighborhoods.