Venice Community Housing Awarded Up to $65M for 120-Unit Project in L.A.
By Nick Trombola July 11, 2024 12:53 pm
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The Los Angeles County Board of Supervisors has approved more funding for development the region desperately needs: more affordable housing.
The board has authorized up to $65 million in bond financing for the development of a 79,000-square-foot, 120-unit affordable housing complex at 400 Centinela Avenue in Inglewood, Calif., according to Urbanize, which first reported the news.
The project, dubbed Sankofa Place at Centinela, comes from Venice Community Housing, a nonprofit developer that owns and operates more than 250 units in 17 properties across Greater L.A. All units at the Sankofa Place project will be reserved for households earning between 30 and 80 percent of the local median income.
Plans also call for the construction of an 18,000-square-foot community building, which will house advocacy group Social Justice Learning Institute’s programming headquarters, per Urbanize. Sankofa Place will be built several blocks west of Inglewood Park Cemetery, resting place of notables such as Ray Charles, Johnnie Cochrane and Edgar Bergen.
The County’s bond financing is the second round of public funding made available for Venice Community Housing in recent weeks.
Representatives for Venice Community Housing did not immediately respond to a request for comment.
The California Department of Housing and Community Development last month awarded the group $14.7 million for a 78-unit affordable housing development, dubbed 20th Street Apartments, at 1634 20th Street in Santa Monica, Calif. The award was part of a $185 million round of grants from the National Housing Trust Fund, which also provided financing to 17 other projects throughout the Golden State.
Nick Trombola can be reached at NTrombola@commercialobserver.com.
