Affordable housing developers plan 140-unit project in Venice

The property sits on a parking lot owned by the city

TRD LOS ANGELES /
Nov.November 15, 2018 02:00 PM
200 Venice Boulevard and Mayor Eric Garcetti

A group of community housing developers are looking to turn a city parking lot into an affordable housing complex in Venice.

Hollywood Community Housing and Venice Community Housing, both non-profit organizations, filed plans to build a 105,770-square-foot property that would house 140 affordable units on Venice Boulevard, according to a filing published with the Department of City Planning.

There would also be space for offices, retail, a restaurant and even an art studio. A public parking garage would also be part of the property.

The project is part of a larger city-wide effort to redevelop parking lots into housing, the Los Angeles Times previously reported.

Throughout the 1950s and 60s, the city bought several parcels around L.A. and opened parking lots to serve the surrounding businesses. It currently owns the Parking Lot 731 at 200 North Venice Boulevard, where the developers are planning the 140-unit building.

Neither of the non-profits responded to requests for comment.

L.A. has been grappling with an affordable housing problem for years, an issue that has been fueled by a severe shortage of supply. A study from apartment data site Zumper published earlier this month revealed that the median rent for a one-bedroom apartment spiked nearly 16 percent in October, the biggest year-over-year jump for L.A. in 2018.

Newly elected governor Gavin Newsom is hoping to ease some of the burdens. As part of his campaign, Newsom has advocated doing away with some regulatory barriers on real estate development as a way to speed up construction.


Related Articles

arrow_forward_ios
Weingart towers

LA approves $200M in bonds for affordable housing projects

LA approves $200M in bonds for affordable housing projects
The development site for the planned 207-unit complex (Credit: Google Maps)

Mapleton Properties plans 207-unit complex in Palms

Mapleton Properties plans 207-unit complex in Palms
AvalonBay Communities CEO Timothy J. Naughton, TA Realty Managing Partner James O. Buckingham, and Avalon Venice

TA Realty pays $65M for luxury Venice apartment complex

TA Realty pays $65M for luxury Venice apartment complex
City Controller Ron Galperin( Credit: Ron Galperin/Wikipedia)

LA controller finds just 228 homeless housing units built with $1.2B bond

LA controller finds just 228 homeless housing units built with $1.2B bond
The coronavirus pandemic could worsen California’s affordable housing crisis

COVID-19 exposes the utter dysfunction plaguing affordable housing development in California

COVID-19 exposes the utter dysfunction plaguing affordable housing development in California
Councilmember Mike Bonin and the Ellison (Credit: Google Maps)

Venice landlord says city is using the coronavirus pandemic to settle a score

Venice landlord says city is using the coronavirus pandemic to settle a score
From left: Neil Shekhter and Governor Gavin Newsom (Credit: Kevin Scanlon, Justin Sullivan/Getty Images, and iStock)

Tenant group calls for CA rent strike

Tenant group calls for CA rent strike
Skid Row Housing Trust CEO Lee Raagas and a rendering of the project (Credit: Michael Maltzan Architecture via Urbanize)

Skid Row Housing Trust, Michael Maltzan Architecture plan mass-timber housing tower

Skid Row Housing Trust, Michael Maltzan Architecture plan mass-timber housing tower
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...