Developer drops market-rate units and pivots to fully affordable project in Hyde Park
Another developer in Los Angeles sees the promise of affordable housing construction through Executive Directive 1 and is modifying its development plans accordingly. Los Angeles-based developer Eleos filed an application last year with the City of Los Angeles looking to construct a six-story building with 162 apartments — some of which would be affordable — and one accessory dwelling unit at 7175 South Crenshaw Boulevard in Hyde Park. Now, Eleos is pivoting to a larger fully affordable development, filing a revised application with the Planning Department that ups the unit count at the site, Urbanize Los Angeles reported. The new […]This article originally appeared on The Real Deal. Click here to read the full story.
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