Figueroa Apartments

Figueroa Apts.

5216 S. Figueroa St. Los Angeles, CA 90037

Projected 2014


Figueroa Apartments will entail the rehabilitation of a building in South Los Angeles that was originally built in 1926. It is located along a major public transportation corridor and is in close proximity to several retail and restaurant locations, as well as Downtown Los Angeles and the University of Southern California. The two-story building is 9,708 square feet and has 20 units. It has fallen into significant disrepair and most major systems are failing. Under the previous owner, the building was in the Los Angeles Housing Department’s REAP program, which monitors buildings with code violations. The scope of work includes installation of a new roof, upgrades to the building’s facade, repairs to the sewer line, installation of a new HVAC system, and extensive finish work to the interior of all units. The developers will also convert one of the apartment units into on-site case management space and a convenient laundry room for tenants. The total development cost is $4 million.


Unit Mix


19 units (16 studio units, 2 one-bedroom units, 1 one-bedroom manager’s unit)


Affordability


Low-income families (Less than 30% AMI).


Development Team


Lead Developer LTSC CDC
Community Partner Coalition for Responsible Community Development (CRCD)
South Central Health and Rehabilitation Program (SCHARP)
Equity Partner N/A
Architect Ken Kurose Architect
Contractor Paradise General Contractors, Inc.


Project Financing


Predevelopment / Acquisition

    • Corporation for Supportive Housing

Construction / Permanent

    • Corporation for Supportive Housing
    • Federal Home Loan Bank of San Francisco
    • Los Angeles Housing Services Authority
    • Mental Health Services Act
    • California Department of Housing and Community Development: Governor’s Homeless Initiative