With the cost of living continuing to rise across California and the country, affordable rental homes can make a meaningful difference for households trying to keep housing from consuming most of their budget.
As the city continues adding housing in neighborhoods across the city, Southeast L.A. is getting a new mixed-use complex designed specifically for lower- and moderate-income renters.
A $93 million affordable housing project
The Broadway & Imperial development has been in the works for several years, with its city planning case completed in September 2023. Los Angeles City Planning records describe the project as the demolition of a vacant structure and construction of a new five-story mixed-use building.
The project is being developed by SoLa Impact, with Breen Engineering handling the design. The development recently secured a $92.9 million financing package, including construction financing, federal Low-Income Housing Tax Credit equity, permanent financing and a public bond issuance, Urbanize L.A. reports.
State housing records projected construction to be ready by February 2028, but a current groundbreaking date has not been publicly confirmed.
What will the Broadway & Imperial housing project look like?
The development is planned for the site at 252 W. Imperial Highway in South L.A. An existing shuttered industrial site will make way for 166 rental units, including 164 income-restricted apartments and two manager units.
The homes will include 14 studios, 130 one-bedroom apartments, and 22 two-bedroom apartments, with rents restricted to households earning between 30% and 70% of the area median income.
The new development will consist of four- and five-story structures with approximately 1,030 square feet of ground-floor commercial space and parking for 85 vehicles. Plans also include a rooftop deck, community room, three landscaped courtyards, a lobby, bicycle storage, and EV charging.
