Six LA County Affordable Housing Projects Awarded Federal Funding
About $83 million will go toward the developments, which will include a combined 418 units.
By Nick Trombola June 11, 2024 12:18 pm
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California is wading deeper into the state’s affordable housing shortage.
The state’s Department of Housing and Community Development (HCD) late last week awarded $185 million in National Housing Trust Fund grants to 18 projects up and down the coast. Those projects feature a combined 1,284 units, roughly 60 percent of which are designated for extremely low-income households.
“We are excited to see the impact of these funds across the state as communities increase the supply of permanent affordable housing for extremely low-income individuals and families in partnership with the California Department of Housing and Community Development,” said Claudia Monterrosa, a deputy assistant secretary in the federal Department of Housing and Urban Development whose remit includes grant programs, said in a statement.
Six of those projects, together awarded about $83 million, are in Los Angeles County.
Nonprofit developer A Community of Friends was awarded $17.7 million for its 80-unit Estrella Azul project 2201 East First Street in Boyle Heights; The Coalition for Responsible Community Development received $15.4 million for The Garvey, at 1434 West Compton Boulevard in Compton, which features 75 units; Venice Community Housing was awarded $14.7 million for the 78-unit 20th Street Apartments project at 1634 20th Street in Santa Monica; the Jamboree Housing Corporation received $13.5 million for The 101 at 101 East Pacific Highway in Long Beach, which features 52 units; the 82-unit 300 Alamitos in Long Beach, developed by Mercy Housing California at 300 Alamitos Avenue, received $13.6 million; and Linc Housing Corporation took home $8 million for the 51-unit Willowbrook 3, at 12611, 12617 and 12625 South Willowbrook Avenue in Willowbrook.
Most projects financed by the National Housing Trust Fund are also required to abide by a 55-year affordability pledge, with the idea being that multiple generations will experience the benefits of stable housing at any given development.
“These loans and grants will allow us to provide generational stability for people most in need, providing them the foundation from which to pursue dreams and goals that may once have seemed unattainable,” HCD Director Gustavo Velasquez said in a statement.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
