A new affordable residential project may soon come to 2859 West Francis Avenue in Westlake. The project proposal includes the development of a new eight-story development featuring 200+ deed-restricted affordable housing units.
Six Peak Capital is the project developer.
The project was given approvals last year to build a Transit Oriented Community. The scope of work includes the development of an eight-story residential building offering 232 units, all of the units to be available as deed-restricted affordable housing options. No on-site parking has been proposed at this point.
Previous plans proposed a six-story building with 110 homes. Only 11 units were proposed as affordable housing options.
A project application was submitted to the Planning Commission last month, pending review and approval. In addition to the entitlements via ED1, the project will also require the approval of density bonus incentives to permit a larger structure than allowed by zoning rules.
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