A prolific affordable housing developer in Downtown Los Angeles is expanding into Van Nuys, with plans for a 64-unit apartment building.
Skid Row Housing Trust filed plans with the city for the new construction, with all but one of the units set aside for low-income or very low-income tenants, records show. The filing marks the continuation of a recent rise in residential construction in the area as L.A. continues to grapple with a lack of affordable housing.
Skid Row Housing Trust purchased the vacant lot at 14142 to 14154 West Vanowen Street for $3.5 million last September. A call to the organization for comment was not immediately returned.
Since the apartment project will be dedicated exclusively to affordable housing — which kick in for a household earning less than $64,800 a year — the developer has requested a density bonus exceeding 35 percent.
Los Angeles adopted a Density Bonus Ordinance in 2008 to incentivize the creation of affordable housing. It allows developers who include affordable units in their projects to receive benefits, such as reduced parking requirements or the ability to build more units than what is allowed by code.
Among its more than two-dozen projects, Skid Row Housing Trust recently filed to build a 100-unit development called SP7, at 519 East 7th Street.