Yesterday, the California Department of Housing and Community Development announced $220 million in funding for the construction and preservation of subsidized affordable housing statewide. And unlike a recent round of awards through the California Housing Accelerator, this time Los Angeles County is poised for the lion's share of the money.
The money, which is distributed through the Multifamily Housing Program, is funded through Proposition 1, a $1.5-billion state bond measure approved by voters in 2018. Seven Los Angeles County developments have secured a combined total of roughly $84.1 million in the current round of funding - the fourth since the measure was passed four years ago.
“For years, California has been underbuilding homes, especially multifamily housing. This lack of supply and skyrocketing rents and home prices have created heavy, overwhelming cost burdens on families,” said HCD Director Gustavo Velasquez in a statement. “The funding announced today will hopefully kick-start a variety of affordable projects that will help keep roofs over the heads of vulnerable California families.”
The seven Los Angeles County projects, which will create a combined total of 523 apartments, include:
The Weingart Center Association was awarded $12.5 million for the construction of 7024 Broadway, a 52-unit affordable housing complex in South Los Angeles which is named for its address. Plans call for a mix of studio, one-, and two-bedroom dwellings, in addition to supportive service, community rooms, and a conference facility.
Developer Mercy Housing of California has secured $6.8 million for the construction of a new affordable housing complex for veterans, which would rise from a vacant lot at Foster Road and San Antonio Drive in the City of Norwalk. Plans call for the construction of a 60-unit apartment building.
The project was previously awarded approximately $5.37 million in funding through the state's Veterans Housing and Homelessness Prevention program.
The state has awarded developer Abode Communities $4.1 million for the Grandview Apartments, a proposed six-story, 100-unit apartment complex slated for a property at 714-760 S. Grand View Street. The project would replace 36 existing apartments, which are subject to the City of Los Angeles rent stabilization ordinance, with a larger number of deed-restricted affordable units.
Red Tail Crossing
Community Corp. of Santa Monica was awarded nearly $17.9 million in funding for Red Tail Crossing, the first permanent supportive housing development planned in the Westchester neighborhood. The project, slated for a roughly two-acre property located at 8333 Airport Boulevard which was once home to a Christian church, calls for the construction of a new four-story edifice featuring 102 one-, two-, and three-bedroom apartments.
The state has awarded $17 million to The Michaels Organization for Phase S4 of the Jordan Downs redevelopment in Watts. The proposed 90-unit development is a small component of a broader $1-billion transformation of the public housing complex which will eventually create 1,400 homes - double the 700 which originally stood on the site.
Abode Communities is slated for $11.5 million in funding for a second project - The Carlton Apartments at 5401 S. Western Avenue in South Los Angeles. Plans call for the construction of a four-story, 60-unit apartment building on a currently vacant lot.
L.A. County's list of projects is rounded out by a third entrant from Abode Communities - the Central Avenue Apartments planned at 8909 S. Central Avenue in South Los Angeles. The proposed project would include stand four stories in height and feature 59 affordable housing units - including 28 apartments for low-income families, 21 apartments for unhoused persons suffering from mental illness, and nine apartments for transition age youth.
Additional awards through the Multifamily Housing Program are expected to be announced in late 2022.