Hollywood Local News

Housing project opens near school

HOLLYWOOD — Mayor Eric Garcetti, City Councilman Mitch O’Farrell, state and local leaders were joined by affordable housing developer Abode Communities, property owner the Los Angeles Unified School District and residents for the Nov. 3 grand opening celebration of Selma Community Housing.

Built to improve access to affordable housing and promote employee retention and life-work balance of staff at the adjacent Selma Elementary School, the 66-apartment development prioritizes homes for families and district employees earning between 30 percent and 60 percent of the area median income.

The development features an innovative joint-use that includes 67 residential parking spaces, short- and long-term bicycle parking and 50 parking spaces during the day for district staff at the adjacent Selma Elementary School which supplements Hollywood’s limited public parking supply by night.

The $32.9 million project was made possible through a 66-year ground-lease contribution from the district valued at $1.9 million and private equity provided by Union Bank through the syndication of low-income housing tax credits, the state’s main tool for creating and preserving affordable rental housing.

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