The Los Angeles County Board of Supervisors unanimously approved the release of US$72.4 million in bond financing to developer BRIDGE Housing Corporation for the building of additional affordable housing at the Vermont-Manchester complex in South Los Angeles. The project, named after the crossroads of Vermont and Manchester avenues, would consist of two independent residential complexes on a single Los Angeles County land.
Also Read: US$1.5 million grant approved for Jamboree Housing Los Angeles project
The first, dubbed “The Family Building,” would include 118 one-, two-, and three-bedroom apartments for families earning 30 to 80 per cent of the Los Angeles area median income. The second, dubbed “The Senior Project,” would have 62 one-bedroom apartments for seniors earning up to 30% of the local median income. The Supervisors voted to approve around US$6.3 million for the family development and approximately US$26.9 million for the senior project. Separately, the Board approved updated ground lease and developer agreement conditions for the project.
More details on the Vermont-Manchester Complex, Los Angeles
According to the project description on the firm’s website, TCA Architects is designing the complex, which will be built using prefabricated modular apartments and will contain ground-floor shops and a supermarket. SEED LA, a public boarding school, will be erected away from the flats in the property. The new affordable houses are being built more than four years after Los Angeles County began the process of buying the Vermont-Manchester property, which had been abandoned since the 1992 riot in response to the Rodney King verdict. Eli Sasson had owned the site for years before then, and had long pledged to develop it with a shopping centre but had refused to follow through more than two years after a ceremonial groundbreaking. BRIDGE Housing’s other ongoing projects include new affordable developments in Long Beach, Koreatown, and Pasadena, as well as the revamp of the Jordan Downs complex in Watts.
