Another senior affordable housing complex is coming to the Pico Union neighborhood, per an agenda item from the City of Los Angeles' CRA/LA Bond Oversight Committee.

1010 Development Corporation has proposed the construction of Casa Carmen, a 25-unit age restricted apartment complex that would replace a single-family home and two commercial buildings at the corner of 11th Street and Burlington Avenue.

The proposed three-story building would feature a modern design from Onyx Architects, highlighted by a roof terrace.  A historic building on the property would be integrated into the the new construction.

According to a staff report from the California Treasurer's Office, the $11.5-million project would cater to households making up to 30 percent of the area median income, with a proposed monthly rent of $488.

The City of Los Angeles has proposed appropriating approximately $2.58 million in CRA/DLA excess bond proceeds to help fund the project.

Image via Google Maps
Image via Onyx Architects
Image via Google Maps

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Urban Marketplace 2018 Event Offers Investment & Development Opportunities

ULI Los Angeles Presents Experts and Dealmakers Demonstrating How to Redevelop and Revitalize Neighborhoods

LOS ANGELES, Calif. – Leading experts in urban development will offer ideas and opportunities at the 18th annual Urban Marketplace. The interactive conference and forum by ULI Los Angeles, a District Council of the Urban Land Institute (ULI), is Wednesday, March 28, 2018, 7:30 a.m.