The project, located at the southeast corner of 76th Street and Vermont Avenue, will consist of a four-story building featuring 49 affordable units - in studio and one-bedroom floor plans - with a two-bedroom manager's apartment, 2,000 square feet of ground-floor retail space, a 26-car parking garage.
“Angelenos are coming together to support long-lasting, high-quality affordable and supportive housing that will bring our homeless neighbors indoors now,” said Los Angeles Mayor Eric Garcetti at the groundbreaking ceremony. “The Pointe on Vermont is the latest example of Prop. HHH dollars at work and another reminder of the progress taking place across the City as we confront the homelessness and housing crisis.”
The Pointe on Vermont will cater to households earning at or below60 percent of the area median income, according to a December 2018 staff report to the California Tax Credit Allocation Committee. Rents will range from as low as $509 per month for a studio unit to as much as $1,091 per month for a one-bedroom apartment.
FSY Architects is designing the contemporary low-rise project, which is budgeted at just under $25 million.
Construction of the Pointe is expected to occur over approximately 18 months.
Not far south of the Pointe on Vermont, another Measure HHH-funded housing development is now under construction at 88th Street and Vermont Avenue.
- The Pointe on Vermont (Urbanize LA)