The seven-story Elden Elms project set for the Pico-Union area of Los Angeles (Credit: Urban Architecture Lab)
The West Hollywood Community Housing Corporation (WHCHC) has earned a $43.7-million loan to build the second of two affordable senior housing complexes near Downtown L.A.
MUFG Union Bank lent the nonprofit developer the funds to construct the seven-story project with 93 units for low-income tenants at 1255 S. Elden Avenue in the Pico-Union area. The “Elden Elms” project will include 141,100 square feet of space next to WHCHC’s second project on the same block.
The Elden Elms plan was approved in late 2015. It includes density bonuses and affordable housing incentives that will allow the project to increase the floor area by 35 percent.
The project is net to where WHCHC’s Westmore Linden project is under construction. That building is set for 72,000 square feet with another 93 affordable units for seniors. Fifteen of the units will be reserved for homeless households with special needs. United Building Company is building the project, which is expected to be complete later this year. It’s located at 1250 S. Westmoreland Avenue, and valued at $65 million.
According to WHCHC’s website, resident staff will offer on-site supportive services free of charge, and will partner with case-management service providers for formerly homeless tenants.
Urban Architecture Lab is designed both projects that are set along Pico Boulevard. The firm also designed LaTerra Development’s two mixed-use projects on Hollywood Boulevard.
WHCHC has developed 17 apartment projects, including 14 in West Hollywood, and one each in Glendale and Los Angeles, according to its website. The group also filed plans earlier this year to build a 41-unit affordable housing complex, also located in the Pico-Union area, at 1055 S. Mariposa Avenue.