Far East Building
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347-353 E. First St. Los Angeles, CA 90012

2003


Built in 1896, the Far East Building is a cultural and historical icon of the Little Tokyo neighborhood and Japanese American community in Los Angeles. The Far East Building was red-tagged after the Northridge Earthquake in 1994 and rehabilitation work was completed December 2003. These efforts restored the building’s historic aesthetic and converted the previous SRO units into 14 studios and 2 one-bedroom affordable units. The Far East Cafe space on the ground floor was restored into a new restaurant, and the second commercial space is now LTSC CDC’s DISKovery Computer Learning Center for seniors, residents and youth. In 2012, the U.S. Department of Energy provided funds through the Weatherization Assistance Program for an energy retrofit of the Far East Building that included weather- stripping in all apartment units.


Unit Mix


16 units (13 studio units, 2 one-bedroom units, 1 studio manager’s unit)


Affordability


Low-income households (35% - 50% AMI). All units are reserved for adults with mental disabilities. 8 units are set aside for the homeless and 4 of these are reserved for disabled homeless. The remaining 8 units are reserved for low-income singles and fixed-income seniors.


Development Team


Lead Developer LTSC CDC
Community Partner N/A
Equity Partner N/A
Architect Tetra Design, Inc
Contractor C. Canright Construction


Project Financing


Predevelopment / Acquisition

    • California Department of Housing and Community Development
    • Local Initiatives Support Corporation
    • Mar/Chong Family

Construction / Permanent

    • Ahmanson Foundation
    • California Debt Limit Allocation Committee
    • California Department of Housing and Community Development
    • California Housing Finance Agency
    • California Tax Credit Allocation Committee
    • City of Los Angeles Housing Department
    • City of Los Angeles Community Development Department
    • Community Redevelopment Agency of the City of Los Angeles
    • Federal Home Loan Bank
    • Getty Foundation
    • Housing Authority of the City of Los Angeles
    • Housing Authority of the County of Los Angeles
    • Los Angeles Homeless Services Authority
    • LTSC Board of Governors
    • Mayor’s Office of Economic Development
    • Save America’s Treasures
    • Washington Mutual Bank
    • W.M. Keck Foundation