New Construction - Affordable Housing: 5000 S Figueroa St, Los Angeles, CA 90037

The Crenshaw Corridor Development Group has filed plans for a new 6-story affordable housing complex at 5000 S Figueroa Street in the Vermont Square neighborhood. This much-anticipated project, with an estimated value of $55 million, aims to address the critical need for affordable housing in South Los Angeles.

The proposed development will feature 150 residential units, specifically designed to house low-income families and individuals. In addition to the residential component, the complex will include vital community spaces, fostering a sense of belonging and providing resources for residents. Ground-floor retail is also planned, which will activate the street front and offer convenient services to both residents and the surrounding community.

This filing represents a significant step forward in the ongoing efforts to revitalize the Crenshaw Corridor and provide equitable housing opportunities. The project is expected to utilize various affordable housing funding mechanisms and will undergo thorough review to ensure it meets all city requirements and serves the community effectively. Construction is anticipated to bring much-needed jobs to the area.