456 West, which replaces a city-owned parking lot at 456 W. 9th Street, will be highlighted by 91 apartments reserved for households earning between 30 and 80 percent of the area median income level. Plans also call for a ground-floor clinic offering primary care, behavioral health, and pharmacy services, which will be run through a partnership between the developers and Harbor Community Health Centers.
“Affordable housing should be within reach to every Angeleno -- especially those who have suffered most directly from generations of disinvestment, neglect, and poor urban planning,” said Los Angeles Mayor Eric Garcetti in a prepared statement. “This project shows us what progress to defeat this crisis looks like, and it will serve as a model for countless developments to come in this neighborhood and others throughout our region.”
RRM Design Group is the architect behind 456 West, which is depicted in an elevation plan as a contemporary six-story building, which will include a mix of studio, one-, two-, and three-bedroom dwellings. Residents will have access to community features such as a computer lab, a gym, play areas, a picnic terrace, and a community lawn.
According to a staff report to the California Tax Credit Allocation Committee, the project's roughly $53.8-million price tag will be covered through a $29-million loan from Bank of America, over $10.8 million in tax credit equity, a land lease from the City of Los Angeles, and additional funding from the Housing and Community Investment Department. The per-unit cost for 456 West is approximately $569,000.
Rents for the apartments, per the staff report, will start at $548 for a studio unit at 30 percent of AMI and run as high as $2,172 per month for a three-bedroom dwelling at 80 percent of AMI.
Construction of 456 West is on pace for completion in early 2023.
456 West is the third joint venture between Linc Housing and National CORE, which currently have more than 1,200 residential units in construction between them. One of their other ongoing developments is the Fairview Heights apartments, a 101-unit complex now rising next to the Crenshaw/LAX Line in Inglewood.
Looking for affordable housing? Visit lahousing.lacity.org/aahr