WS Communities will add to its growing housing portfolio in Santa Monica with a 50-unit affordable project.
A spinoff of NMS Properties, WS Communities wants to build the eight-story development at 1514 7th Street, according to Urbanize. All the units would be designated affordable, which the developer agreed to in exchange for the construction of two other market-rate units. This project would include 963 square feet of commercial space. It would be built over a vacant lot across the street from a 100-unit WS Communities development.
The 30,000-square-foot complex is being designed by KFA Architecture, according to the report. It will have one-, two- and three-bedroom units. There would be no parking spaces but would include 89 bike spaces.
The affordable project would satisfy the off-site affordable housing requirements imposed on the two other WS Communities developments in Santa Monica.
Earlier this year, Santa Monica imposed a temporary ban on market-rate studio apartments smaller than 375 square feet, which affected six WS Communities projects in the works. That ban ends later this week, when the city is expected to introduce more permanent regulations. [Urbanize] — Gregory Cornfield