Construction has begun on Serenity, a mixed-use, an affordable homeless senior housing project in Los Angeles. The City of Los Angeles Housing Department and the Housing Authority of Los Angeles joined up with Southside Church of Christ, John Stanley Inc., and Innovative Housing Opportunities to take on the project.
A Proposition HHH-supported housing loan of $9.22 million was provided in funding. Additionally, $19.91 million in tax-exempt and taxable bonds supplied the money for the five-story, 50-unit project. R4 Capital LLC also contributed $12.6 million in low-income housing tax credit equity.
An insight into the Serenity senior housing Los Angeles
The parking lot for Southside Church of Christ will be designed and built on 0.82 acres by Withee Malcolm Architects. Apartments in the complex will range from studios to one bedroom. Furthermore, there will also be 1,785 square feet of commercial space.
The Housing Authority of the City of Los Angeles is providing 14 independent senior living arrangements for persons earning at or below 60% of the area median income. Further, 36 rental vouchers for elderly people who are homeless or who have been homeless for a long time.
A community lounge, classroom, exercise center, laundry room, and resident parking are available as amenities.
Commentary on the project
“A true public-private cooperation exists here. A $9 million Proposition HHH Supportive Housing Loan and 36 Project-Based Vouchers from the Housing Authority of the City of Los Angeles, which are essential for the project’s advancement, were made possible thanks to Councilman Marqueece Harris-ongoing Dawson’s support. It will offer senior citizens who are homeless permanent housing and supportive services, improving their quality of life and the neighborhood “John Stanley Inc. President Saki Middleton remarked.
“Innovative Housing Opportunities is pleased to contribute to the effort to increase the availability of senior housing that is affordable. We must all work to provide this expanding population with homes that are wholesome, lovely, and secure “President and CEO of Innovative Housing Opportunities Rochelle Mills remarked.