The Los Angeles County Board of Supervisors has voted to approve nearly $40.9 million in loans for six affordable housing developments in different corners of Southern California. The projects - located in the San Fernando Valley, Central Los Angeles, South Los Angeles, Long Beach, Lancaster, and El Monte - will create 577 total housing units for low-income families and seniors, homeless persons, transition-age youth, and veterans.
The developers are expected to leverage approximately $235 million in additional external funding sources for the six projects. Here are the proposed developments:
Non-profit developer Abbey Road, Inc. is planning a four-story, 103-unit development at the intersection of Clybourn Avenue and Dubnoff Way in the San Fernando Valley. The project would cater to households earning between 30 and 60 percent of the area median income.
The Board of Supervisors previously approved $1.5 million in Measure H funding for Sun Commons, and allocated an addition $500,000 from the County's affordable housing trust fund today. The total cost of the project is estimated at $56.5 million.
Earlier this year, SRO Housing Corp. filed plans with the City of Los Angeles to redevelop a parking lot at 1218-1232 W. Ingraham Street with a seven-story, 121-unit affordable housing development. The project, called the Ingraham Apartments, would also include 42 parking spaces in a basement garage.
The Board of Supervisors approved $5.5 million in funding for the project today from the County's affordable housing trust fund and other sources. Total development costs are estimated at approximately $55.5 million.
Bridge Housing Corporation was selected last year to lead the development of a potentially transformative mixed-use project at the intersection of Vermont and Manchester Avenues. The 4.2-acre site, vacant since the riots of 1992, is slated for the construction of multiple mid-rise buildings containing 180 affordable housing units, 50,000 square feet of retail, and a boarding school with 200 dorm rooms. Plans also call for a transit plaza and 20 apartments for faculty at the school.
The Board of Supervisors approved $10.75 million in funding for the project through the County's affordable housing trust fund, Measure H, and other sources. The total cost of the Vermont Manchester project is currently estimated as $84.2 million.
Imagine Village II
Developer Abbey Road, Inc. proposes to construct an 80-unit development for special needs households on a vacant 2.3-acre site at Sahuayo Street and Avenue K-4 in Lancaster.
The Board of Supervisors has approved $7.84 million in funding for the project, contributing to a total cost of $38.9 million.
The proposed development is the second phase of the 75-unit Imagine Village development.
El Monte Area X
The Cesar Chavez Foundation has received approvals from the City of El Monte to redevelop a property at the northeast corner of Center Avenue and Valley Boulevard with two four-story buildings containing 53 residential units. The proposed development - planned just south of the El Monte Metrolink Station - would require the relocation of an existing bus stop across the street.
The Board of Supervisors approved up to $7.42 million in funding for the project, which has a total estimated budget of approximately $16.9 million.
Magnolia + PCH
In Long Beach, LINC Housing Corporation is pursuing the development of a mixed-use affordable housing development on a narrow, vacant lot at the intersection of Magnolia Avenue and Pacific Coast Highway. The project, designed by Withee Malcolm Architects, will consist of a three- and four-story building containing 56 apartments, resident amenities, and 2,400 square feet of ground-floor space for recreational and community service facilities.
The Board of Supervisors voted to provide up to $9.3 million in funding for the Magnolia + PCH development.
- L.A. County Supervisors Advance Affordable and Permanent Supportive Housing Developments (Urbanize LA)
Interested in finding affordable housing? Visit housing.lacity.org.