New housing development to take form at 5215 South Figueroa in Vermont Harbor, Los Angeles. Local real estate developer RMG Housing has successfully broken ground and initiated site preparation to construct a supportive housing project on a city-owned site at 52nd Street & Figueroa Street. The project proposal consists of a four-story building that will house forty residential units.
Breen Engineering is managing the design concept and construction of the project.
5215 South Figueroa Site View via Google Maps
The developer secured $7-million in financing through SDS Capital Group’s SDS Supportive Housing Fund, a private equity impact fund designed for permanent supportive housing projects. The project aims to provide approximately 700 beds to tackle the current housing situation in the city.
The architecture style of the low-rise structure is contemporary. Renderings reveal a facade composed of prefabricated modular units.
The project site is in the pre-construction stage, and the estimated date of project completion has not been announced yet.
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