Over the past two months, Housing Diversity Corp. has announced a combined sum of $71 million in new financing for a pair of micro-unit apartment buildings in Downtown Los Angeles.

View of Liv DTLA looking southwestHunter Kerhart Architectural Photography

The first, Liv DTLA, is now under construction just south of Pico Station at 1411 S. Flower Street.  The new eight-story building will feature 227 studio apartments, including 25 units reserved for extremely low-income households through the Transit Oriented Communities program. Additionally, 66 of the apartments are expected to accept Section 8 vouchers

The new investment in Liv DTLA includes a $34.9 million loan from the United Way of Greater Los Angeles' Affordable Housing Initiative and $13.6 million in equity investment from Arctaris. The project has previously secured a combined $18 million through Crowdstreet and individual investors.

View looking west across Flower StreetSteinberg Hart

Construction of Liv DTLA is currently 85 percent complete.

The second project, For the second project, the Vida DTLA development at 1317 S. Grand Avenue, Housing Diversity Corp. has announced $34.16 million in combined quity and debt financing from the United Way and Pinnacle Partners.

View of Vida DTLA looking southwestUrbanize LA

The apartment complex, slated to debut on March 28, is another eight-story edifice which feature 147 studio apartments - including 17 reserved for extremely low-income residents, 42 expected to accept Section 8 vouchers, and 88 market-rate units which will have rents targeted toward households earning no more than 120 percent of the area median income level.

Both projects included work from Steinberg Hart and STS Construction Services.

View of 1317 S. Grand Avenue looking southSteinberg Hart

Housing Diversity Corp.'s first Los Angeles-area project, the Premiere Hollywood apartments, is a 69-unit micro-unit development just south of the Walk of Fame. Non-profit service provider PATH was originally tasked to place eight renters for the project's eight deed-restricted extremely low-income units, and has since leased 43 apartments in the building for use by tenants earning less than 50 percent of the area median income level.

Follow us on social media: 

Twitter / Facebook / LinkedIn / Threads / Instagram