The City of Santa Monica has approved construction and permanent loan commitments for the development of two affordable housing projects, according to notices distributed earlier this month.
The City has provided $11.4 million for the construction of The Magnolia Villas, a project slated for a .31-acre site at 1445-1453 10th Street. The loan includes an existing $6.58-million funding commitment for site acquisition and predevelopment activities.
Plans call for a four-story building containing 40 units of senior affordable housing with a community garden, a courtyard, and at-grade parking for 10 vehicles. With the exception of a two-bedroom manager's unit, all of the apartments are to be occupied by senior households - aged 62 and older - earning 60 percent or less than the Los Angeles area median income. Tenants are to be selected from the City of Santa Monica's established waiting list.
Designed by DE Architects, the project was described to the Santa Monica Architectural Review board as a contemporary infill project which uses cantilevered upper floors, inset balconies, roof terraces, and a recessed entry portal to create a push and pull along its 10th Street facade.
According to the website of developer EAH Housing, construction of the Magnolia Villas is anticipated to begin in December 2019 and be completed by February 2020 - an approximately three-month build out.
EAH Housing is also pursuing the development of a 42-unit low-income apartment building at the former home of Santa Monica's Nikkei Hall.
- Magnolia Villas (Urbanize LA)
Community Corp. of Santa Monica has received a $9.5 million loan for the construction of Pacific Link, which would replace a gas station at 2120 Lincoln Boulevard. The new loan includes a previous $7.49-million funding equipment for site acquisition.
Pacific Link, designed by Tighe Architecture, would consist of a four-story building featuring 37 one-, two-, and three-bedroom apartments reserved for households earning up to 80 percent of the Los Angeles County median income.
As with the Magnolia Villas project, the project's future residents will be pulled from the City of Santa Monica's established waiting list.
A timeline for the project has not been announced.
- Affordable Housing to Replace Santa Monica Gas Station (Urbanize LA)
Interested in finding affordable housing? Visit housing.lacity.org.