Adams Terrace, which is split between two properties at 4314 and 4347 W. Adams Boulevard, will create a total of 86 studio and one-bedroom apartments - all reserved for low-income and homeless seniors - atop parking for 51 vehicles.
The project, which is funded in part through $33.7 million in multifamily conduit revenue bonds, will offer rents considered affordable to older adults earning up to 50 percent of the area median income. In 2020, the total cost of the apartment complex was estimated at approximately $60 million.
Abode Communitis is also designing the project, which consists of two four-story buildings, each clad primarily in plaster. Both buildings will include central courtyards, rooftop amenity decks, and other amenities for use by residents.
Adams Terrace sits a short walk north from the PATH Villas Montclair, another affordable housing complex recently built at at 4220 Montclair Street.
- Adams Terrace (Urbanize LA)