Santa Monica Boulevard project set to received bonds
By Sam Catanzaro
A West Los Angeles housing development is set to receive over $16 million in city bonds.
Last week Los Angeles City Council approved Multifamily Housing Revenue Bonds, in an amount not to exceed $16,350,000 to finance the new construction of the 51-unit multifamily housing project known as 11010 Santa Monica Boulevard located at 11010 Santa Monica Boulevard.
The proposal from the developers Weingart Center Association and Valued Housing is expected to cost $391,039 per unit – or about $19.5 million total. This is $138,961 below than the average cost per unit construction costs for the most recent of Measure HHH developments, which averaged $530,000 each.
Renderings show a five-story, contemporary low-rise building.
Some nearby residents and stakeholders have expressed concern about the proejct and lack of community input in the planning process.
“All of us see and understand the growing problem of homelessness in our city, it is a safety issue for all concerned. Solutions must work for residents, businesses and the homeless, too. Simply dropping a public housing facility in a city parking lot without regard to other’s needs is not the answer. The lot is desperately needed by area businesses for workers and visitors/clients/customers,” said Ed Engoron who has owned a nearby business for 33 years.
“The parcel is just over 10,000 square feet, forcing the project to have awkward and disruptive ingress and egress,” added resident Rohit Mehta. “While we would very much appreciate a speedy resolution and build-out of homeless supportive housing, I am concerned that in the haste to meet deadlines, there is a failure to meet the true needs of our community.”
