Affordable Housing Slated for Empty Lot in Valley Village

Angeleno Investments is pursuing more affordable housing in the San Fernando Valley.

An Angeleno affiliate filed an application with the Los Angeles Department of City Planning to construct a six-story building with nearly 100 units at 5139 North Colfax Avenue in Valley Village, Urbanize Los Angeles reported. Nearly a decade ago, the parcel was slated for a small-lot subdivision with 12 homes, but the plan from Ventura County-based Peterberg Companies never got off the ground.

Angeleno’s proposal calls for 95 one- and two-bedroom residences above ground-floor parking. The units would consist of low- and moderate-income housing, qualifying the project for density bonus incentives that allow for a larger structure than usually allowed by zoning regulations. In Los Angeles County, individuals making a maximum of between roughly $90,800 and $93,300 annually would qualify.

A central courtyard, a rooftop amenity deck and 32 ground-floor parking spaces are planned.

Angeleno’s project would rise next door to the recently developed Magnolia Nineteen mixed-use building from Hillock Land Company and Luminor Properties at 11700 Magnolia Boulevard.

The endeavor in Valley Village won’t be Angeleno’s first in the San Fernando Valley. The developer is building affordable housing at 10912 Huston Street in North Hollywood, another formerly empty lot that is poised to have 38 units once complete. Elsewhere in the city, Angeleno is planning to replace a single-family home at 1178 North Edgemont Street in East Hollywood with a 34-unit edifice, Urbanize Los Angeles reported.

Los Angeles faces a state-mandated housing goal of 456,643 new units planned by 2029, 184,721 of which must be affordable. Developers in Los Angeles have increasingly leaned on affordable housing incentives like density bonuses and Executive Directive 1 in order to get proposals approved quickly at the scale desired. In the post-pandemic era, Greater Los Angeles has ranked among the top metros nationally building affordable housing, with nearly a quarter of new units built between 2020 and 2024 being income-restricted, according to RentCafe.

— Chris Malone Méndez