Affordable projects in Boyle Heights and Winnetka get LA city bond financing

The two projects are slated to have 168 total units

The Los Angeles City Council approved $58.5 million in bond financing for 168 affordable apartments across two projects.

The financing went to a 91-unit project slated for Winnetka and a 77-unit project in Boyle Heights, according to Urbanize.

The Winnetka project is being built by Hollywood Community Housing Corporation and GTM Holdings. The Palm Vista complex would replace a series of low-rise commercial buildings on 20116-20128 Sherman Way.

The four-story project would have 44 supportive housing units, 45 low-income housing units, and a pair of manager’s apartments. They would all be one- or two-bedroom units.

The funding includes $25 million in tax-exempt bonds and $2.4 million in taxable bonds. That accounts for just over half of the project’s $48.5 million estimated cost.

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Abode Communities received $31.3 million in bond financing for their La Veranda project. The two-building project would rise on a pair of Metro-owned sites at Cesar E. Chavez Avenue and Soto Street.

The units would be a mix of one-, two-, and three-bedroom units. Around 8,000 square feet of ground-floor retail space is also planned. The project is estimated to cost $53.8 million.

L.A. County last year allocated $2 million for each project.

Abode Communities is also working with AvalonBay to redevelop the West L.A. Civic Center.

[Urbanize] — Dennis Lynch

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Affordable projects in Boyle Heights and Winnetka get LA city bond financing

The two projects are slated to have 168 total units

The Los Angeles City Council approved $58.5 million in bond financing for 168 affordable apartments across two projects.

The financing went to a 91-unit project slated for Winnetka and a 77-unit project in Boyle Heights, according to Urbanize.

The Winnetka project is being built by Hollywood Community Housing Corporation and GTM Holdings. The Palm Vista complex would replace a series of low-rise commercial buildings on 20116-20128 Sherman Way.

The four-story project would have 44 supportive housing units, 45 low-income housing units, and a pair of manager’s apartments. They would all be one- or two-bedroom units.

The funding includes $25 million in tax-exempt bonds and $2.4 million in taxable bonds. That accounts for just over half of the project’s $48.5 million estimated cost.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

Abode Communities received $31.3 million in bond financing for their La Veranda project. The two-building project would rise on a pair of Metro-owned sites at Cesar E. Chavez Avenue and Soto Street.

The units would be a mix of one-, two-, and three-bedroom units. Around 8,000 square feet of ground-floor retail space is also planned. The project is estimated to cost $53.8 million.

L.A. County last year allocated $2 million for each project.

Abode Communities is also working with AvalonBay to redevelop the West L.A. Civic Center.

[Urbanize] — Dennis Lynch

Tags