340-unit affordable complex planned for Glendale

LINC Housing, National CORE will develop, lease property from city

Los Angeles /
Aug.August 16, 2021 10:30 AM
340-unit affordable complex planned for Glendale
515 Pioneer Drive, LINC Housing CEO Rebecca Clark and National CORE CEO Steve PonTell and Glendale Mayor Paula Devine (Google Maps, LinkedIn, Glendale CA Gov.)

LINC Housing and National CORE are teaming up with the city of Glendale to build a 340-unit affordable housing complex amid the deepening countywide housing crisis. 

The proposal, made through the Glendale Housing Authority, includes all but three units classified as affordable, according to plans filed with the city. The complex will rise at 515 Pioneer Drive.

Long Beach-based LINC Housing and nonprofit National CORE secured $10 million from the city to start development, and will lease the property.

The affordable units will be reserved for households earning between 30 and 80 percent of the area median income, with the three remaining to be reserved for staff. The complex will also include an on-site parking garage with 342 lots.

In Glendale, the median household income from 2015 to 2019 is $66,130, according to U.S. census data.

The city bought the land for the complex for $13 million in 2019, along with another site at 900-920 E. Broadway.

Glendale recently approved a plan to build 127 units at the East Broadway site, increasing the density from 92 units, according to separate city planning documents. All of the units at the East Broadway complex will be reserved for low, very low and extremely low-income senior households.

Other public entities are looking for ways to develop affordable housing in the city. In April, the California Statewide Communities Development Authority teamed up with Waterford Property Company to acquire a 507-unit complex at 633 N. Central Ave. for conversion into middle-income housing.






    Related Articles

    arrow_forward_ios
    Treehouse co-founders Joe Green and Prophet Walker and with 4421 S. Crenshaw Boulevard (LinkedIn via Walker, Warcus & Millichap, WikiMedia / Tony Maesto)
    Co-living startup Treehouse plans second complex in Los Angeles
    Co-living startup Treehouse plans second complex in Los Angeles
    A construction site in Century City (Getty)
    California launches $1.8B fund for stalled affordable housing projects
    California launches $1.8B fund for stalled affordable housing projects
    Ardie Tavangarian (Photo by Kevin Scanlon)
    LA’s gentleman builder on developing for the ultra-wealthy
    LA’s gentleman builder on developing for the ultra-wealthy
    Two pending California housing laws are controversial. Will they be consequential?
    Newsom enacts 2 controversial measures to boost housing. Will they be consequential?
    Newsom enacts 2 controversial measures to boost housing. Will they be consequential?
    1101 Flower Street in L.A. with  Tony Lombardo of Lendlease and Zhang Xifang of Oceanwide. Xifang reportedly resigned in July 2021. (Google Maps, Lendlease, Oceanwide)
    Contractor bails on Oceanwide’s LA megaproject after scoring $42M judgment
    Contractor bails on Oceanwide’s LA megaproject after scoring $42M judgment
    Overton Moore Properties CEO Timur Tecimer with an aerial of the property (Google Maps, OMP)
    Gardena industrial complex sells to Overton Moore Properties for $35M
    Gardena industrial complex sells to Overton Moore Properties for $35M
    Fairfield Residential CEO Greg Pinkalla and Madison at Town Center (Fairfield, Marcus and Millichap)
    Apartment giant Fairfield Residential pays $62M for Valencia complex
    Apartment giant Fairfield Residential pays $62M for Valencia complex
    Michael Shvo and 9200 Wilshire renderings (Shvo, Getty)
    Shvo signs Mandarin Oriental to Beverly Hills residential project
    Shvo signs Mandarin Oriental to Beverly Hills residential project
    arrow_forward_ios

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

    Loading...