The roughly $47-million development, located at the northwest corner of Elden Avenue and Pico Boulevard, consists of a seven-story edifice featuring 93 one-, two-, and three-bedroom apartments above a 100-car parking garage.
The project will cater to households earning no more than 60 percent of the area median income - including 15 apartments reserved for formerly homeless persons. According to a 2018 staff report to the California Tax Credit Allocation Committee, the property will offer rents ranging from $545 per month for a studio unit to as much as $1,512 for a larger three-bedroom dwelling.
Urban Architecture Lab designed the contemporary podium-type building, which will include a community room, an outdoor courtyard, a gym, and a landscaped rear yard for use by residents.
According to a project website, Elden Elms is designed to achieve LEED Gold Certification, and is expected to open this year.
Click here to apply for the property's wait list.
Its past projects in the neighborhood include Westmore Linden, a near identical project on an adjoining property which opened in early 2020.
- Pico-Union (Urbanize LA)
Looking for affordable housing? Visit lahousing.lacity.org/aahr