The City of Santa Monica has approved new funding for The Laurel, a proposed affordable and supportive housing complex at the former site of Santa Monica Nikkei Hall.
As of August 7, the City has agreed to loan $11.7 million to EAH Housing for the construction of the project, which would create 58 apartments for low-income and formerly homeless persons at 1413 Michigan Avenue. With the exception of a two-bedroom manager's unit, all of the apartments would come in studio floor plans, priced for households earning at or below 30 and 50 percent of the area median income.
KFA Architecture is designing the proposed development which would consist of a new four-story structure on what is now a parking lot. Plans call for retaining and restoring the shuttered community center's social hall and residence building and incorporating it into the development.
The $11.7 million loan includes $8.3 million in funding already provided to the project in May 2019, which was used for site acquisition. EAH Housing intends to use the money to leverage $22.5 million in additional state funding for the development.
EAH Housing is developing multiple affordable and supportive housing projects in Los Angeles County, the Magnolia Villas senior housing complex now under construction near the intersection of 10th Street and Broadway.
The Laurel is the latest in a series of affordable housing planned in Santa Monica's Pico Neighborhood - including a project from Community Corp. of Santa Monica now under construction on 14th Street.
- 1413 Michigan Avenue (Urbanize LA)
Looking for affordable housing? Visit lahousing.lacity.org/aahr