The Los Angeles County Board of Supervisors has voted to approve nearly $47 million in loans for the development and preservation of affordable housing in various communities across Southern California. The money will go towards 11 different projects totaling more than 850 residential units.
La Veranda, a proposed development from Abode Communities, is slated for two Metro-owned sites at the intersection of Cesar E. Chavez Avenue and Soto Street in Boyle Heights. Plans call for the construction of two four-story buildings containing 77 residential units atop 8,000 square feet of ground-floor retail space.
The County has voted to provide $2 million in funding via its affordable housing trust fund, contributing to a total project cost of approximately $56.2 million.
3rd and Dangler, located at intersection of 3rd Street and Dangler Avenue in East Los Angeles, will consist of a four-story building containing 78 affordable housing units and amenities atop a 39-car garage.
National CORE is developing the $42.3-million complex, which is slated to receive $7 million from the County's affordable housing trust fund.
The Chesterfield apartments, slated for a currently vacant site at the northwest corner of 48th Street and Normandie Avenue in South Los Angeles, will consist of a five-story edifice featuring 43 affordable housing units and parking for four vehicles.
Wakeland Housing and Development Corporation is slated to receive $2 million from the affordable housing trust fund for the project, which has an estimated budget of $24.1 million.
The Corazon del Valle development, which is being developed by Clifford Beers Housing, is slated for a County-owned property at 14545 Lanark Street in Panorama City. Originally envisioned as a 120-unit complex, plans now call for a larger two-phase development consisting of multiple five-story buildings featuring 180 apartments.
The project, which has a combined cost of nearly $93 million, is expected to receive a total of $14 million from the affordable housing trust fund.
Construction is expected to begin in 2021.
Palm Vista
Palm Vista - a joint venture between Hollywood Community Housing Corporation and GTM Holdings - is slated for a property at 20116-20128 Sherman Way in Winnetka.
The proposed 91-unit development is budgeted at $48.5 million, and is slated to receive $2 million from the affordable housing trust fund.
The development team is also seeking $27.2 million in multifamily housing revenue bonds to finance construction.
Anaheim and Walnut, a project from BRIDGE Housing Corp., is slated for a property at its namesake intersection of Anaheim Boulevard and Walnut Avenue in Long Beach. Plans call for a five-story structure containing 88 apartments in addition to retail space and parking.
The $53.8-million development is slated for $5.2 million from the affordable housing trust fund.
Affirmed Housing, a developer based out of San Diego, is seeking approvals for the construction of a supportive housing complex at 11609 Western Avenue in the unincorporated community of Westmont. Plans call for the construction of a five-story building featuring 57 apartments reserved for lower-income households and parking for 34 vehicles.
The project is slated for $5.75 million in funding from the County.
Other projects funded by the County include:
- Sunny Gardens - preservation of 95 affordable units in La Puente;
- Casa Bonita Senior Apartments - preservation of 80 affordable apartments in Huntington Park; and
- Essex Tower - 70 units of special needs housing in Lancaster.
Interested in finding affordable housing? Visit housing.lacity.org.
