At its meeting yesterday, the Los Angeles County Board of Supervisors approved more than $44.7 million in loans through the No Place Like Home program for the development of affordable housing in Westlake, Downtown, South Los Angeles, and the San Fernando Valley.
The money - when leveraged with approximately $254 million in additional funding sources - will lead to the creation of 510 units of affordable and permanent supportive housing. The eight projects are as follows:
The first, called the Lake House, is an approximately $34-million development planned just north of MacArthur Park. Community Development Partners proposes to construct a 63-unit apartment building serving special needs populations, utilizing $7 million in No Place Like Homes funds.
A few blocks south in Westlake, a City-owned property at 619-629 S. Westlake Avenue is slated to be redeveloped by the Cesar Chavez Foundation and Meta Housing Corp. with a five-story, 77-unit apartment building reserved for households earning at or below 30 and 60 percent of the area median income.
the $34-million development is slated to receive $4.6 million in No Place Like Home funds, supplementing $3.15 million in Measure HHH funds already dedicated to the project.
Washington/Los Angeles Apartments
The project, called the Washington/Los Angeles Apartments for its location at the intersection of Washington Boulevard and Los Angeles Street, will consist of a five-story edifice featuring 112 apartments and 7,300 square feet of ground-floor retail space.
The total cost of the project is estimated at more than $84 million.
The Board of Supervisors voted to approve $6.8 million in No Place Like Home funds for HiFi Collective, a proposed affordable housing development from LINC Housing Corp. in the Westlake area.
Plans call for the construction of a five-story edifice featuring 64 apartments atop 6,475 square feet of ground-floor retail and resident services.
The project, which would be built on land at 3200 W. Temple Street owned by the non-profit Search to Involve Pilipino Americans, is budgeted at $32.7 million.
Wakeland Housing and Development Corporation is set to receive $9.24 million for the development of the Chesterfield Apartments in South Los Angeles.
The proposed development, which would replace a parking lot at the intersection of 48th Street and Normandie Avenue, calls for the construction of a five-story edifice featuring 43 low- and very low-income apartments above a small parking garage.
The total project budget is estimated at $25.8 million.
A second development from Wakeland, called the Amani Apartments, is slated for a long-vacant property at the intersection of Pico and Crenshaw Boulevards.
Plans call for the construction of a five-story building featuring 54 apartments for low- and very-low income households.
The Board of Supervisors approved $2.4 million in No Place Like Home funds for the project, contributing to a total project cost of $32.3 million.
Mariposa Lily, a proposed development from West Hollywood Community Housing, from would rise from a city-owned site at 1047-1055 S. Mariposa Avenue. Plans call for the construction of a seven-story building with rents affordable to low- and very-low income households.
The Board of Supervisors approved $4.7 million in No Place Like Home funds for the Art Deco-inspired project, which has a total estimated budget of $24.2 million.
The Link at Sylmar
The Board of Supervisors also approved $5.9 million in funds for Sylmar II, a proposed affordable housing development which would rise from a vacant at 12663 N. San Fernando Road.
The project, which would feature 56 residential units, is a joint venture between LA Family Housing and Meta Housing Corp.
The City of Los Angeles has already approved the release of $21 million in multifamily housing revenue bonds for Sylmar II, which is budgeted at just under $28 million.
Interested in finding affordable housing? Visit housing.lacity.org.