Adams Terrace, split between two properties at 4314 and 4347 W. Adams Boulevard, will consist of 86 studio and one-bedroom apartments - reserved for low-income and homeless seniors - and parking for 51 vehicles.
The project, which is funded in part through $33.7 million in multifamily conduit revenue bonds, will cater to seniors earning at or below 50 percent of the area median income. The total cost of the development is approximately $60 million.
Approved plans call for the construction of two contemporary four-story buildings, each of which would be clad primarily in plaster. Both halves of the project would include central courtyards, rooftop amenity decks, and other common spaces for use by residents.
Construction of Adams Terrace, which will rise on two city-owned properties, follows on the heels of a similar development from PATH Ventures which is now under construction nearby. The PATH Villas Montclair, located at 4220 Montclair Street, will consist of a five-story building containing 46 apartments.
A series of market-rate housing developments - as well as new office buildings and hotels - are being built by CIM Group along the two-mile stretch of Adams Boulevard to the west of Crenshaw Boulevard.
- Adams Terrace (Urbanize LA)
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