In a unanimous vote, the Los Angeles County Board of Supervisors moved last week to approve the release of nearly $15-million in tax-exempt bonds to Domus Development for the construction of a new affordable housing complex in El Monte's downtown hub.
The Ramona Metro Point apartments, slated for a vacant city-owned site located at 11016 Ramona Boulevard, would consist of a multi-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.
The project, per a project landing page on the website Domus partner company Newport Partners, will consist of a four-story U-shaped building. In addition to housing, plans call for on-site offices for social services providers, community meeting areas, and parking for 76 vehicles.
The new funding approved by the Board of Supervisors complements existing money allocated to Ramona Metro Point, including $5.5 million in No Place Like Home Funds, a $1.1-million Infill Infrastructure Grant, and $5.7-million in state Multifamily Housing Program funds.
Romana Metro Point, located less than a half-mile east of Metro's El Monte Station, the busiest bus station on the West Coast, joins a handful of large mixed-use and multi-family residential buildings are planned or under construction on publicly-owned land surrounding the transit hub, as well as additional affordable housing developments rising next to the city's Metrolink station.
- El Monte (Urbanize LA)