Prolific South Los Angeles-based developer SoLa Impact is availing itself of the Mayor's Executive Directive 1 for its latest project: a new affordable housing complex at the intersection of 62nd Street and Broadway in Florence.
The proposed project, submitted late last month to the Department of City Planning, is currently named for its address at 6200 S. Broadway. Plans call for the construction of a new five-story edifice featuring 66 residential units - including 51 apartments for low-income households, 14 apartments for moderate-income households, and one unrestricted manager's unit.
As the project is considered affordable housing, it is able to make use of both streamlined processing and density bonus incentives to permit a larger structure with less open space than would normally be allowed by zoning rules.
Open Office is designing 6200 Broadway, which is portrayed in plans as a contemporary low-rise structure clad in painted concrete, stucco, and vertical siding. According to findings, the project will be composed of prefabricated modular units as a means to speed up construction.
SoLa Impact, founded in 2015, develops affordable and mixed-income housing across South Los Angeles and other neighborhoods using opportunity zone funds. The company has accrued a portfolio that includes more than 1,500 affordable units, as well as a range of new market-rate and mixed-income developments.
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