A new affordable housing project is under construction taking shape and form at 7524 South Hoover Street in the Vermont-Knolls neighborhood in Los Angeles. The project proposal includes the construction of a new five-story building offering residential units at affordable rates.
ELK Development and SoLa Impact are listed as the project developers.
The project replaced a series of commercial buildings on the site. The scope of work includes the construction of a new five-story building offering 79 apartment, available for low-income and moderate-income households.
The project was executed via the Mayor’s Executive Directive 1, as well as density bonus incentives to permit a larger structure than would otherwise be allowed by zoning rules.
Renderings reveal a contemporary low-rise structure. The estimated construction timeline and market availability have not been announced yet.
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