Abode Communities to Transform MacArthur Park Site Into 100 Service-Enhanced Affordable Homes
Abode Communities submitted entitlements to transform 36 existing apartments into Grandview Apartments, 100 new affordable homes in the MacArthur Park neighborhood of Los Angeles. The project is the first in the City of Los Angeles to receive funding from the Metro Affordable Housing Transit Connected Housing (MATCH) program, via an $8.25 million acquisition loan from Low Income Investment Fund (LIIF).
“This vital funding allows us to bring much-needed affordable housing and social services to the MacArthur Park neighborhood” said Robin Hughes, President & CEO of Abode Communities. “When complete, Grandview Apartments will triple the availability of affordable homes on an under-utilized location just 500 feet from Metro’s Westlake/MacArthur Park Station.”
The site is nearly an acre in size and home to 18 duplexes with 36 rent-stabilized units in an area where median income averages $29,332 (ACS 2012-2016). “We are deeply sensitive to the fact that existing residents will be impacted by the development process,” Hughes continued. “Abode Communities is committed to working with these tenants, who will be offered both a comprehensive relocation package, as well as the first right to return, at a rent they can afford,” she remarked.
Anticipated to serve low-income families and families experiencing homelessness, the $64 million development will be financed utilizing a combination of funding from City of Los Angeles Prop HHH, the state’s Affordable Housing & Sustainable Communities program, Low Income Housing Tax Credits, and tax-exempt bonds, among others.
Once complete, Grandview Apartments will offer an array of resident amenities including onsite social services programming offered by Abode Communities and its service provider partner, St. Joseph Center. Construction is estimated to begin in fall 2020 and complete summer 2022.