April 16, 2024 Breaking News, Latest News, and Videos

City of Santa Monica Awards Awards $5M for 13-Unit Community Corp. Development

342 Berkeley Street project will bring 13 affordable housing units to Santa Monica

By Dolores Quintana

The City of Santa Monica has approved giving $5,689,748 million dollars to a new project proposed by the nonprofit developer Community Corp. of Santa Monica, as reported by Urbanize Los Angeles. This project would be new affordable housing for the city which Santa Monica is in desperate need of. The new development will be constructed at 1342 Berkley Street. 

As per the letter sent by the City of Santa Monica, the money will be a loan dependent on the “Borrower’s execution of final documents and is subject to the terms and conditions set forth in this letter.” and the construction of 13 affordable housing units in a four-story building that the address. 

The letter also sets out the terms and conditions of who is eligible to rent the apartments and says, “Five units shall be occupied by households earning no greater than 60% of Los Angeles County area median income, the remaining eight units shall be occupied by households earning no greater than (30%) of LA County AMI.”
According to Urbanize Los Angeles, the new building will be called Berkley Station and the architects Brooks+Scarpa will use the NEST Toolkit which states that “Nest isn’t a standard home “model,” but a kit of parts—scalable and adaptable for use on any combination of typical urban lots. It was designed to address L.A.’s shortage of supportive housing for the homeless, providing the flexibility to meet the needs of each particular site, neighborhood, and bed count.’

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