Another Prop HHH project closes financing. 

This supportive housing development* will be located at 311–345 N. Beacon Street, Los Angeles, CA in Council District 15. The new construction will consist of three stories of Type V modular construction over a concrete podium containing at-grade parking, property management offices, resident services offices, and a community space. Amenities will include: a common laundry room, elevator access to all units, a community room/kitchen, outdoor patio, landscaped grounds with outdoor recreational space. 

The finished modules will have 88 studio units plus 68 long-term secured area bicycle parking spaces. The 88 units will include 44 units for persons experiencing homelessness and 44 units for persons experiencing chronic homelessness. 

Once complete, all units will be restricted at 30% Area Median income (AMI). Social and supportive services to be provided by LA Family Housing. The #PropHHH loan for this project will be for $8,555,556 for an HHH-related cost average of $96,130 of the overall project cost of $45,982,886.

This represents the 4th project in production from the Prop HHH Housing Innovation Challenge. The developer for this project is ABODE. Next steps, the “Notice to Proceed” (NTP) permit to commence construction! Estimated completion of the Beacon Landing is June 2023.

Keep up with #PropHHH progress, visit the Prop HHH Progress Report updated monthly: housing.lacity.org/housing/hhh-progress.

Prop HHH, housing the unsheltered and rebuilding lives.