Recently, Governor Gavin Newson awarded $40 million in funds for affordable housing proposed at 4020 South Compton Avenue in Central Alameda, Los Angeles.
More than $923 million has been awarded through the California Housing Accelerator, which offers bridge funding for shovel-ready developments that have been unable to secure financing due to a shortage of federal tax credits and bonds. And while more than 95 percent of that money was directed to jurisdictions outside of Los Angeles County, it wasn’t a complete shut-out.
With a $40.2-million award, Thomas Safran & Associates has proposed Parkview, an affordable housing development. Anand Devarajan Architecture is responsible for the design concepts.
4020 South Compton Avenue Courtyard via Anand Devarajan Architecture
Parkview has earned the distinction of being the lone Los Angeles-area project to score funding through the accelerator. The project was approved in 2019 and will bring a collection of three-story structures featuring 127 studios, one-bedroom, two-bedroom, and three-bedroom apartments. The units will be reserved for low and extremely low-income households.
Renderings reveal a contemporary low-rise complex surrounding a large courtyard.
4020 South Compton Avenue via Anand Devarajan Architecture
The Housing Accelerator program, which is managed by the California Department of Housing and Community Development, uses funding from the federal American Rescue Plan Act passed in 2021. While Parkview was the only Los Angeles-area development funded in this round of the program – there will be another opportunity. An additional $735 million will be available for eligible projects in the next phase of the program.
The development will rise at 41st Street and Compton Boulevard.
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