Los Angeles County has targeted $57 million in state funding to help build hundreds of affordable and permanent supportive housing units in Downtown L.A. and in the San Fernando Valley.
The funding will go to five development projects that have a total of 550 units and will cost more than $265 million to build. The L.A. County Board of Supervisors awarded the money through the state’s “No Place Like Home” program.
The biggest recipient and one of L.A.’s largest affordable housing developers is the nonprofit Weingart Center, which is set to receive $30 million, according to the county. The funding will help with the construction of its 303-unit San Pedro Tower at 600 San Pedro Street. In June, Weingart Center proposed to nearly triple the amount of office space — to 50,000 square feet — by replacing a parking lot near Sixth and San Pedro streets.
The organization is also building a two-tower, 378-unit complex at 554-562 S. San Pedro Street, but that project in not included in the funding.
The money was awarded to other prolific affordable housing developers in L.A. including Skid Row Housing Trust, which will receive $9 million for its 64-unit complex in Van Nuys. The remainder of the money will go to Mercy Housing California’s 94-unit project; Domus and L.A. Family Housing’s 49-unit development; and a 40-unit complex from Decro Corporation, Daylight Community Development and the Downtown Women’s Center.
When he took office in January 2019, Gov. Gavin Newsom said he would fight homelessness and increase affordable housing across the state in what he called “a Marshall Plan for affordable housing.” He did not give details but said the massive plan would “lift up the fight against homelessness from a local matter to a statewide mission.”
This year, when he sends his budget to the Legislature on Friday, the governor is expected to ask for $1.4 billion in funding to address homelessness at the local and state levels. Most of the money will go to immediate housing and community healthcare services, according to the Los Angeles Times.
The post LA County awards $57M to 5 affordable housing projects appeared first on The Real Deal Los Angeles.
Powered by WPeMatico