Affordable Housing Project Proposed in Studio City
Developer Thomas "Tommy" Beadel has filed plans with the City of Los Angeles to build a five-story, 100% affordable housing project in Studio City. The project, located at 12432-12446 West Moorpark Street, would offer 102 two-bedroom units, according to the application filed with the city.
Project Details
The project would allocate 20% of its units for moderate-income households, while the remaining 80% would be for low-income residents. The proposed project is not required to offer resident parking due to its proximity to public transportation.
The project would also feature a range of amenities, including bike storage, a courtyard, roof deck, and other open space totaling 6,375 square feet. The developer, Beadel, has partnered with Stockton Architects to design the project.
Expedited Permit Process
The project would be fast-tracked through the approvals process using Los Angeles Mayor Karen Bass’ expedited permit process program, Executive Directive 1 (ED1). This program was launched in 2022 to accelerate the creation of shelters and fully affordable housing projects, allowing multifamily developers to bring their projects to life more quickly.
Other Affordable Housing Projects
Beadel is not only working on the Studio City project but also has several other affordable housing projects in various stages of development. These projects include a four-story project at 2245 South Amherst Avenue in Sawtelle, which would offer 38 one-bedroom units for low-income residents, as well as projects in North Hollywood and Mar Vista.
Conclusion
The proposed Studio City project is a significant step forward in addressing the city’s affordable housing crisis. With the expedited permit process, the project can move forward quickly, bringing much-needed affordable housing to the community.
Frequently Asked Questions
Q: What is the location of the proposed project?
A: The project is located at 12432-12446 West Moorpark Street in Studio City.
Q: How many units will the project offer?
A: The project will offer 102 two-bedroom units.
Q: What is the income range for the residents?
A: The project will allocate 20% of its units for moderate-income households, while the remaining 80% will be for low-income residents.
Q: Is the project required to offer resident parking?
A: No, the project is not required to offer resident parking due to its proximity to public transportation.
Q: Who is designing the project?
A: The developer, Beadel, has partnered with Stockton Architects to design the project.
