Aedis Real Estate Group and the Foundation for Affordable Housing have broken ground on a new development in the Westlake District.
The Hope on Alvarado Street, located at 166 N. Alvarado Street, will consist of a five-story structure containing 84 studio and one-bedroom apartments, as well as space for on-site social services and a small parking garage. The apartments are to be priced for persons making 60 percent or less than the area median income, with rents set between $788 and $1,014 per month.
Designed by KTGY Architecture + Planning, the project is to be constructed out of shipping containers. The metal structures will be arranged to create an internal courtyard on the building’s second floor, while its ground level will be activated with amenity spaces.
The $27-million development’s construction timeline has previously been estimated at six months, with an accelerated schedule due to the use of shipping containers.
A similar affordable development to be built with shipping containers is planned near the Crenshaw/LAX Line in Hyde Park.
Source: Urbanize LA