A mixed-use development featuring affordable housing and street-level commercial space is on the rise in the Florence community.
The project, which replaces a surface parking lot at 321-325 E. Florence Avenue, will consist of a five-story building featuring 31 low-income apartments about 700 square feet of ground-floor retail space and parking, according to a construction permit issued by the City of Los Angeles.
Los Angeles County Assessor records indicate that the property is owned by an entity affiliated with South Los Angeles-based real estate investment firm SoLa Impact. A rendering posted to the company's website depicts a contemporary low-rise structure featuring balconies and a second-floor amenity deck for residents.
Building permits indicate that The Albert Group Architects is designing the project, while Aster Construction Services is serving as general contractor.
Completion is anticipated in 2021, according to the developer's website.
SoLa Impact, which uses opportunity zone funds to invest in affordable housing, is developing a handful of additional projects in South Los Angeles neighborhoods.
The Florence Avenue site is located one block east of Towne Avenue, where Wellnest is also in the midst of construction on an affordable supportive housing project.
- Florence (Urbanize LA)
Looking for affordable housing? Visit lahousing.lacity.org/aahr