The Los Angeles County Board of Supervisors has moved to purchase another hotel for reuse as supportive housing using grant funding from the State's Project Homekey program.
The latest hotel, the Studio 6 in Commerce, sits on a roughly .89-acre site located at 7701 E. Slauson Avenue. The four-story building, completed in the late 1980s, is located immediately south of the I-5 Freeway.
The County, under the arrangement approved by the Board of Supervisors, will pay approximately $14.9 million to Anmol, LLC to acquire the hotel. Funding for the purchase would include an additional $11.7 million requested through the Homekey program, matched with approximately $4 million in coronavirus relief funds.
Federal mandates dictate that the transaction must be completed by the end of December.
The property, after purchase, will be converted into permanent supportive housing, according to a staff report.
The Studio 6 in Commerce is the tenth hotel which the County is slated to purchase through Project Homekey. Several other jurisdictions - including the Cities of Los Angeles and Long Beach - have also secured grant funding through the program to transform hotels and apartment buildings into interim or supportive housing.
- Project Homekey (Urbanize LA)