$22.4 million in new financing has been secured for the construction of new affordable and permanent supportive housing in San Pedro, Enterprise Community Partners announced earlier this month.
The low-income housing tax credit investment, which comes from JP Morgan Chase, will go toward the construction of Beacon Landing, a proposed project from Abode Communities which is slated to replace a pair of commercial buildings at 311-345 N. Beacon Street. Plans call for the construction of a new four-story edifice featuring 90 studio apartments catering to homeless individuals, a 10-car garage, and on-site supportive services.
Beacon Landing will consist entirely of studio apartments, half of which are to be served for persons experiencing physical, mental, or developmental disabilities. The units will be priced for households earning up to 30 percent of the area median income level.
Abode Communities is also serving as architect for the project, which will be composed of prefabricated modular units.
The approximately $39-million project, which also includes Measure HHH funding, is scheduled to begin construction this year and open by Summer 2023.
Enterprise Community Partners also recently secured funding for the Corazon del Valle development, a project from Clifford Beers Housing which will bring 180 income-restricted apartments to a Los Angeles County-owned site in Panorama City.
- Beacon Landing (Urbanize LA)
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