Introduction to PATH Ventures’ LA Motel Housing Redevelopment

The city-funded project to convert a decommissioned Venice hotel into permanent housing for formerly homeless individuals has finally begun. Redevelopment of the former Ramada Inn at 3130 West Washington Boulevard into housing started this week, Westside Current reported. It comes five years after People Assisting the Homeless purchased the property with an $11 million mortgage from the city that was financed with Homekey funds, and three years after the motel was vacated after serving as interim homeless housing for a little over a year.

Background of the Project

PATH Ventures, the entity PATH started to build and operate affordable rental homes with on-site services to support residents in regaining long-term stability, has so far secured more than $19.5 million in city, state, federal and private funding for the project. That works out to about $300,000 per unit at the 30-key motel. A 78-unit motel in Long Beach also bought with Homekey funds recently reopened as a homeless shelter at a per-unit cost of about $294,000.

Project Details and Funding

Work was slated to begin with demolition on Nov. 2. On the docket for the Ramada site is a conversion of “transient guest rooms into light housekeeping rooms” with a change “in interior layout, new laundry rooms, storage rooms, and a patio” with “affordability per [Executive Directive 1],” records at the Los Angeles Department of Building and Safety cited by the Current said. The most recent permit issued for the project was for the installation of a fire alarm system.

As part of ED1 compliance, the project must consist entirely of affordable housing. A timeline for completion has not been disclosed.

Executive Directive 1 and Its Impact

L.A. Mayor Karen Bass’ ED1, which expedites fully affordable residential developments, was created almost three years ago. It has resulted in 29,000 approvals for fully affordable multifamily developments this year, compared to fewer than 18,000 approvals for market-rate multifamily housing.

Conclusion

The redevelopment of the former Ramada Inn into permanent housing for formerly homeless individuals is a significant step towards addressing the housing crisis in Los Angeles. With the project securing over $19.5 million in funding and complying with Executive Directive 1, it is expected to provide affordable housing options for those in need. As the project progresses, it will be important to monitor its timeline and outcome to ensure that it meets its goals and provides a positive impact on the community.

FAQs

Q: What is the purpose of the PATH Ventures’ LA Motel Housing Redevelopment project?
A: The project aims to convert a decommissioned Venice hotel into permanent housing for formerly homeless individuals.
Q: How much funding has been secured for the project?
A: The project has secured over $19.5 million in city, state, federal and private funding.
Q: What is Executive Directive 1 and its role in the project?
A: Executive Directive 1 is a policy that expedites fully affordable residential developments, and the project must comply with it by consisting entirely of affordable housing.
Q: What is the expected outcome of the project?
A: The project is expected to provide affordable housing options for formerly homeless individuals and address the housing crisis in Los Angeles.