A new 91-unit affordable housing community is bringing affordable housing opportunities to families and individuals in San Pedro, California.
Developed by nonprofits Linc Housing and National Core, 456 West is home to households earning between 30% and 60% of the area median income.
The community received more than 4,300 preapplications, a sign of the high need for affordable housing.
“Everyone deserves to have a safe, comfortable place to lay their head at night, and I’m proud that today we’re providing that with these 91 units in the Harbor area,” said Los Angeles councilmember Tim McOsker. “As we continue to tackle our housing crisis, we need to build at every level, but especially affordable housing to open doors to homes for these residents and prevent them from falling into homelessness. Thank you to National CORE and Linc Housing for giving our residents a great place to call home.”
456 West is an electric-only building, resulting in lower carbon emissions, lower air pollution, and increased resiliency, said officials.
“The best way to ensure strong, stable communities is to offer housing for people at all income levels,” said Rebecca Clark, CEO, Linc Housing. “456 West brings 91 more affordable homes to this dynamic, walkable neighborhood. It is our hope that this new community provides a solid foundation for families to thrive.”
Multiple funding sources were assembled to finance the approximately $50.4 million development. The city of Los Angeles contributed the land for the new community. Other funding includes HOME funds managed by the Los Angeles Housing Department, low-income housing tax credit equity through Raymond James Affordable Housing Investments, a construction loan from Bank of America, and a permanent loan by California Community Reinvestment Corp.
The Hope through Housing Foundation provides on-site social services to help elevate the health, well-being, and self-sufficiency of residents. A professional service coordinator, in conjunction with local community partners, arranges an array of programs addressing resident health, parenting skills, employment, money management, exercise, nutrition, and youth development.
“We know that accessible housing is just the first step in tackling our crisis in affordable housing,” said Micheal Ruane, president of National CORE. “It’s the mix of resident services coupled with high-quality homes that allows residents to achieve and maintain lasting stability, safety, and security. We’re committed to offering high-quality on-site services to ensure that residents break the cycle of generational poverty while fostering a sense of community.”
RRM Design Group designed 456 West, and National CORE served as the general contractor.