Fully affordable complex set to rise in vacant Long Beach lot

City officials recently passed a measure to protect renters in the area

TRD LOS ANGELES /
May.May 29, 2019 04:00 PM
Bridge Housing CEO Cynthia Parker and a rendering of the view from Walnut and Anaheim (Credit: SVA Architects)
Bridge Housing CEO Cynthia Parker and a rendering of the view from Walnut and Anaheim
(Credit: SVA Architects)

Add another win for Long Beach renters.

Bridge Housing Corp., a nonprofit developer, has filed plans to build an 88-unit apartment complex for low-income residents, Urbanize reported. The filing comes one week after Long Beach city officials approved a measure aimed at protecting renters in the area, where prices have been skyrocketing amid tight supply.

Spanning 116,000 square feet, the five-story building would rise at 1500 East Anaheim Street. In addition to the 88 units, there would be street-level retail, a medical office and three-story parking garage.

SVA Architects is designing the project, which will include a rooftop deck and central courtyard.

Bridge bought the vacant lot from the Long Beach Community Redevelopment Agency in 2016 for $2.5 million, Gazettes previously reported.

The San Francisco-based nonprofit is also building an 180-unit apartment building at a vacant lot in South L.A. Set to rise on a 4-acre site, the complex will also include around 62,000 square feet of commercial space.

Its latest project in Long Beach comes as the city, much like the rest of the county, grapples with an affordable housing problem. Last week, Long Beach City Council passed an ordinance that will force landlords to pay for tenant relocation fees if they increase rent by more than 10 percent in one year. The fees will range depending on the size of the unit, with a cap at $4,500. [Urbanize]Natalie Hoberman


Related Articles

arrow_forward_ios
6156 Ramirez Canyon Road and 20 37th Place (Credit: Redfin)

This way to the beach: Homes next to ocean topped priciest sales

This way to the beach: Homes next to ocean topped priciest sales
West Ocean Towers (Credit: Ledcor Group)

Developers of Long Beach’s tallest tower sued by contractor

Developers of Long Beach’s tallest tower sued by contractor
Troy Palmquist is expanding The Address into Long Beach with local agent Andy Dane Carter his first hire

Next address for The Address? Long Beach

Next address for The Address? Long Beach
Anthony Rozic, CEO of Goodman North America, HERE. Dennis A. Muilenburg, Boeing CEO

Goodman Group lands massive Boeing complex, with big conversion plans

Goodman Group lands massive Boeing complex, with big conversion plans
Bank of America Vice President and Senior Underwriter Paul Kim and the Hampton Inn

Nexus Companies refinances Long Beach Hampton Inn for $41M

Nexus Companies refinances Long Beach Hampton Inn for $41M
Malibu Real Estate Investments principals Bedros Oruncakiel and Kirkor Suri

Malibu spec mansion lists amid softening luxury market

Malibu spec mansion lists amid softening luxury market
Chandler Parsons and his property on Stone Canyon Road (Credit: Getty Images)

Durant wants out of Malibu, and now Chandler Parsons is listing his Bel Air mansion

Durant wants out of Malibu, and now Chandler Parsons is listing his Bel Air mansion
CoreLogic's Andrew LePage and Orange County (Credit: Wikipedia)

SoCal housing market shows signs of life, with a caveat: report

SoCal housing market shows signs of life, with a caveat: report
arrow_forward_ios

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

Loading...