Holos Proposes Affordable Housing Next to Metro Stop

An empty commercial building next to the Vermont/Beverly Metro station is poised to become affordable housing.

An entity affiliated with Holos Communities filed an application with the Los Angeles Department of City Planning to construct a 12-story residential building with 113 units at 315 North Vermont Avenue in East Hollywood, Urbanize Los Angeles reported.

The mixed-use development, dubbed Goody Square, would include a mix of studio, two- and three-bedroom apartments above roughly 3,500 square feet of ground-floor retail space. Residents would have access to a rooftop amenity deck but would not be provided any on-site parking.

The site sold early last year for $4 million. A previous developer sought to erect a 60-unit apartment building at the site, according to Urbanize.

The Holos affiliate is seeking approvals using AB 2011, which would allow the developer to build residential property on land zoned for commercial use. The building’s exterior has been tagged with graffiti and previously caught fire while its future remained unknown. Its location near the Vermont/Beverly Metro station would qualify it for transit-oriented development incentives, which are becoming increasingly popular for developers in Los Angeles.

In late 2024, L.A. Metro found that more than 110 projects were in development through the Transit-Oriented Communities program. That included more than 11,000 affordable and market-rate housing units. L.A. Metro has helped contribute to construction by aiding in the development of 5,000 units near its stations across Los Angeles County and aiming for 10,000 units by 2031.

Affordable housing is proving to be a more reliable path to groundbreaking for developers in Los Angeles. Between 2020 and 2024, the city ranked among the top 10 metros across the country when it comes to affordable housing construction, with developers delivering a total of 9,406 income-restricted units, according to a recent report from RentCafe. That accounted for roughly 20.5 percent of all new multifamily construction in the L.A. area during that period.

— Chris Malone Méndez