Lakewood Office Building Converted To Affordable Housing
A long-vacant Lakewood office building has recently reopened as an affordable apartment community at 5800 West Alameda Ave.
Developed by Metro West Housing Solutions, the first tower in Fifty Eight Hundred has 54 apartments, community rooms, office suites, a fitness center, youth and adult education centers, bike storage, a rooftop deck and outdoor sculptures by artist Chris Weed.
“Fifty Eight Hundred is about focusing our very best affordable housing resources on low-income families,” Metro West Board Chair George Valuck said. “Fifty Eight Hundred supports balance and allows families and residents to have hope, dreams and the pursuit of happiness.”
An adjacent four-story tower will have another 98 apartments and is on track to be completed by the end of the year.
All told, the apartment community will have seven studios, 46 one-bedroom, 78 two-bedroom and 21 three-bedroom apartments. A majority of the units will serve residents earning 60% of area median income, with the remainder serving those who earn between 30% and 50% AMI.
“More and more working individuals and families find it increasingly difficult to find affordable housing in Lakewood,” Metro West Executive Director and CEO Tami Fischer said. “Fifty Eight Hundred is an achievement made possible by partners that came together to grow the supply of affordable homes in our community, which are so desperately needed.”
The $36M project was supported through a public-private partnership and used more than $20M in state and federal tax credit equity. Sprocket Design-Build was the architect on the project, and JHL Constructors was the general contractor.