Santa Monica Seeks Affordable Housing Developers To Build On 3 City Properties
The city of Santa Monica is advertising three properties to affordable housing developers.
Sites include the Bergamot Station Arts Center, which holds small businesses, a comedy club and a restaurant, according to Urbanize LA.
Any redevelopment of the arts center would be required to create at least 707 affordable homes serving renters earning up to 80% of the area median income. At least 15% of the total units on the site must be reserved for artists.
Another property spanning 1333 Fourth St. and 1324 Fifth St. is a commercial site with two bank branches on it. The city suggested other commercial uses, like a hotel, would fit with affordable housing on the site.
This site was slated for mixed-use redevelopment before the pandemic. Now, Santa Monica hopes to see at least 362 affordable homes there.
The third is Parking Structure 1 at 1234 Fourth Street. Santa Monica said it would consider proposals that keep the garage on-site and retrofit it or develop there and at the nearby Arizona Avenue property jointly, Urbanize reported.
Santa Monica has looked to add affordable housing on the site of another parking garage, Parking Structure 3, and has plans for more than 100 apartments there, according to Urbanize.
