The $13.3-million commitment to Community Corp. of Santa Monica will go toward a proposed development at 1819 Pico Boulevard. The amount, which includes $10.6 million from an existing predevelopment loan, is contingent on the developer being awarded low-income housing tax credits for the project.
The proposed apartment complex, which would replace a church and an apartment building, calls for the construction of a four-story edifice containing of 48 one, two-, and three-bedroom apartments. All of the residential units would be restricted to households earning 80 percent or less than the area median income.
Brooks + Scarpa is designing the proposed development, which would have a modern stucco exterior wrapping a central courtyard area.
- 1819 W Pico Boulevard (Urbanize LA)
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