HVN plots more Valley affordable housing with ED1-backed NoHo project

A North Hollywood lot that sold for $1.1 million is headed for development with an affordable apartment building.  HVN Development has filed plans for a 100 percent affordable project at 5922 North Lemp Avenue, continuing the developer’s rapid expansion across the San Fernando Valley, Hoodline reported. The five-story, 81-unit building would rise on a 6,613-square-foot parcel purchased by HVN founder Tommy Beadel earlier this month for $1.1 million. The Stockton Architects-designed project would consist entirely of apartments reserved for low- and moderate-income renters, qualifying the project for citywide housing incentives including Executive Directive 1, which streamlines approvals for fully affordable […]

This article originally appeared on The Real Deal. Click here to read the full story.