LA City Council Votes on Affordable Housing Development – NBC Los Angeles

The LA City Council on Tuesday voted to secure funding for a 100% affordable mixed-use condominium development in East Hollywood.

The $118 million project at 1021 N. Vermont Ave., near Santa Monica Boulevard, will have 94 units reserved for ultra-low-income households and 91 units for very-low-income households. The remaining two units are reserved for managers.

On Tuesday, the City Council approved a $56 million tax-exempt multifamily revenue bond and a $12.8 million taxable multifamily revenue bond through Bank of America.

The project also received a $24 million loan through Proposition HHH, a voting initiative passed in November 2016 to use $1.2 billion to build 10,000 units for homeless Angelenos. Additional funds are provided through the Housing and Community Development Infill Infrastructure Grant Program and the Housing and Community Development Transit-Oriented Development Housing Program.

Councilor Mitch O’Farrell – in whose 13th Ward the project is located – called the development “smart city planning”.

“It places much-needed housing at the Santa Monica and Vermont metro station in the heart of the 13th precinct. It will have ground floor retail outlets with terrace restaurants for the neighborhood and add to what is already a very busy pedestrian corridor,” said O’Farrell.

Designed in collaboration with the Los Angeles County Metropolitan Transportation Authority, the six-story project aims to improve mobility and pedestrian convenience and “revitalize” East Hollywood and the Vermont/Santa Monica Metro station Red Line transit plaza, according to a report by the Los Angeles Housing Department.

Of the 187 units, 57 will be 445-square-foot studios, 81 will be 633-square-foot one-bedroom units, 44 will be 888-square-foot two-bedroom units, and five will be 1,396-square-foot grocery three-bedroom units. Two of the two bedroom units will be managerial. Each apartment has its own balcony.

Residents who have previously experienced homelessness are provided supportive living units fully furnished with a bed, linens, desk, tables, chairs, kitchen utensils, and bathroom essentials. They will also be provided with supportive services from Housing Works, which LAHD says will have a designated office and staff on site. Other amenities on site include elevators and laundry rooms.

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