In a virtual ceremony held earlier this mont, Community Corp. of Santa Monica broke ground on its latest affordable housing development in the Pico neighborhood.
The project, located on the former site of Mount Hermon Baptist Church at 1819 Pico Boulevard, will consist of a four-story building containing 48 apartments one-, two-, and three-bedroom apartments above 4,174 square feet of ground-floor commercial space and basement parking for 49 vehicles.
“The City of Santa Monica and the Pico neighborhood are famous for their decades of activism fighting for affordable housing and tenant’s rights,” said Mayor Santa Monica Sue Himmelrich in a news release. “We celebrate an amazing partnership between the City of Santa Monica and local nonprofit partner Community Corporation of Santa Monica that will result in the creation of 48, 100 percent affordable apartments that will be home to both families and individuals.”
According to a 2020 staff report to the California Tax Credit Allocation Committee, the apartments will cater to households earning at or below 30, 40, 50, 60, and 80 percent of the area median income. Rents would range from as $522 to $2,028 per month.
Funding for the $41-million development includes tax credit equity, a bank loan, and $13.3 million provided by the City of Santa Monica. The per-unit cost amounts to approximately $792,000.
Brooks + Scarpa is designing the apartment complex, which is described in a staff report to the Santa Monica Architectural Review Board as a "village" concept consisting of multiple buildings centered on a central courtyard area. Architectural plans show a stucco exterior and a food hall at street level.
The project site sits less than a half-mile east of 14th Street, where Community Corp. recently completed work on a senior affordable housing complex, and broke ground in February on a 73-unit apartment building for low-income households.
- 1819 Pico Boulevard (Urbanize LA)