Last week, SRO Housing Corp. and Highridge Costa Development held a groundbreaking ceremony for the RISE apartments, a new affordable apartment building just south of Exposition Park.
The $32-million development, located at 4050 S. Figueroa Street, will consist of a five-story building featuring 56 units of affordable housing priced at the low- and very low-income levels. Rents for the studio apartments will are to be set at $473 per month for very low-income households and $788 per month for low-income households.
The contemporary low-rise structure is being designed by Egan Simon Architecture, which has a Los Angeles office in the Playa del Rey community.
The RISE apartments, which are being built with participation from local non-profit organization RISE, is part of the first round of affordable housing developments funded by Measure HHH, the citywide sales tax measure passed to combat homelessness in 2016.
Completion was recently announced for another affordable housing development on the west side of Exposition Park. The King 1101 apartments feature 26 units in a four-story structure at 1101 Martin Luther King Jr. Boulevard.
Source: Urbanize LA