Two years after acquiring much of the Downtown portfolio of defunct supportive housing developer Skid Row Housing Trust, a partnership led by developer Leo Pustilnikov is moving forward with plans to refurbish some of the trust's properties
In applications filed earlier this month with the Department of City Planning, Hope for an Affordable LA, LP, a joint venture between Pustilnikov and non-profit service provider Hope the Mission, propose tenant improvements to two of the trust's former buildings: the St. George Hotel at 113 E. 3rd Street and the Olympia Hotel at 1201 E. 7th Street.
While details included in both case filings are sparse, in the case of the Olympia Hotel, which was completed in 1993, the proposal would appear to leave the building largely intact. Plans describe the retention of 46 existing affordable units within the three-story structure.
The Olympia HotelGoogle Street View
In the case of the St. George Hotel, a six-story building completed more than 120 years ago, plans call for converting the interior from 88 existing residential units to 69 homes. The project would involve converting single-room occupancy units into "efficiency" units, according to the filing.
At the time of its collapse in 2023, Skid Row Housing Trust managed a portfolio of 29 properties which housed approximately 1,200 formerly homeless tenants. Pustilnikov's group purchased 17 of the buildings out of receivership.
Pustilnikov is perhaps best known for his prolific slate of Builder's Remedy projects which aim to reshape the skyline of Beverly Hills.
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