18 Feb A Big Win for East Hollywood and LTSC
LTSC successfully secured all financing for the Santa Monica Vermont Apartments, a much-needed affordable and permanent supportive housing project in East Hollywood. A groundbreaking ceremony and construction will commence shortly. This project is built in partnership with the Los Angeles County Metro Transit Authority and is located at the Vermont/Santa Monica Metro station. The project’s 187 units will be affordable for low income households, with half of the units reserved as permanent supportive housing for homeless individuals. The project will also include on-site supportive services for residents, provided by Housing Works.
“The need for affordable and permanent supportive housing has never been more urgent as market rate developments continue to crop up in East Hollywood and the homelessness crisis continues to worsen with the ongoing pandemic,” said Debbie Chen, Director of Real Estate Development at LTSC.
The ground floor of Santa Monica Vermont Apartments will include community-serving retail space with plans for a health center and a food court, prioritizing local and legacy small businesses as tenants. The project also includes transit improvements to the surrounding area such as Metro station and plaza enhancements, a bike/mobility hub and new and improved transit shelters. Throughout the development process, LTSC collaborated with the East Hollywood community to ensure the project leaves a positive impact on the health of the neighborhood.
In addition to the Santa Monica Vermont Apartments, LTSC has two other affordable housing projects in the community development pipeline: First Street North Apartments in Little Tokyo and Crocker Apartments in Skid Row.
More news articles about the SMV Apartments:
- The Real Deal- City Gives Nonprofit Developer $69M Boost on Affordable, Supportive Housing Project in East Hollywood
- NBC Los Angeles: LA City Council Advances Affordable Housing Development (LTSC’s SMV Apartments)