LA Family Housing plans to build 54 affordable units in North Hills

The affordable developer is working in South LA as well

Los Angeles /
Jun.June 28, 2019 10:01 AM
LA Family Housing President and CEO Stephanie Klasky-Gamer
LA Family Housing President and CEO Stephanie Klasky-Gamer

Non-profit developer L.A. Family Housing wants to build a 54-unit affordable project in the North Hills neighborhood of the San Fernando Valley.
The plans for 8545 S. Sepulveda Boulevard call for a four-story building on the narrow 22,200-square-foot parcel. A single-story commercial building, which appears to be currently leased by a cabinet maker, would be demolished. The North Hollywood firm picked up the property in late 2017.

All but three units, and one managers unit, would be set aside for “low-income” families. That bracket is available to renters making roughly 80 percent of area median income. A family of three with a $75,150 annual income could qualify and a single renter with a $58,450 annual income would qualify, for example.
L.A. is in dire need of affordable units. The California Housing Partnership, a quasi-government entity that track and studies the state’s affordable housing stock, estimated earlier this year that L.A. County is short more than half a million affordable homes.

The county is home to more than 750,000 households considered low-income. Fifty-eight percent of low-income households spend more than 30 percent of monthly income on rent and around 14 percent spend more than half their monthly income to put a roof over their heads.

L.A. Family Housing is one of Los Angeles’ most active affordable developers. In April, the firm secured $16.7 million in financing from JPMorgan for a project in Florence its developing as a joint venture with the Coalition for Responsible Community Development, another one of Los Angeles’ most active affordable builders.

In February it was one of a handful of affordable firms to receive L.A. County funding for development.


Related Articles

arrow_forward_ios
Jamison Properties' Jaime Lee and rendering of 3000 Wilshire Boulevard, Koreatown (Jamison Services, USC Lusk, Getty)
Jamison to raze building for 188 apartments in Koreatown
Jamison to raze building for 188 apartments in Koreatown
Avanath's Daryl Carter with Baldwin Village Apartments (LinkedIn)
Avanath and public agency pay $220M for Baldwin Village apartments
Avanath and public agency pay $220M for Baldwin Village apartments
Greystone's Hafize Gaye Erkan with 1657 N. Western Avenue (Greystone)
Bond financing kickstarts affordable senior housing complex in Hollywood
Bond financing kickstarts affordable senior housing complex in Hollywood
Mayor Sue Himmelrich (City of Santa Monica, Getty)
Santa Monica moving to tighten rent control rules
Santa Monica moving to tighten rent control rules
California governor Gavin Newsom and state senator Scott Wiener (Getty)
Analysis: Report puts California housing shortage in national perspective
Analysis: Report puts California housing shortage in national perspective
Architect Frank Gehry and rendering of Ocean Avenue Project (Getty, Ocean Avenue Project)
Santa Monica approves Frank Gehry project
Santa Monica approves Frank Gehry project
Uncommon Developers’ Jason Larian and Ryan Hekmat with a rendering of 6728 Sepulveda Boulevard (LinkedIn, Works Progress Architecture)
Uncommon Developers plans 405-unit complex in Van Nuys
Uncommon Developers plans 405-unit complex in Van Nuys
CIM Group’s Shaul Kuba with 6611-6637 Hollywood Blvd
CIM Group plans 146 apartments on Hollywood’s Walk of Fame
CIM Group plans 146 apartments on Hollywood’s Walk of Fame
arrow_forward_ios

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

Loading...