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A housing bond will allow for $15.1M to Kurken Alyanakian, the developer of an Eagle Rock apartment building, to build affordable housing, thanks to yesterday's LA City Council vote.
The development will replace a former duplex that was converted into an office building nearly nine years ago.
The four-story building at 2451 Colorado Blvd will have 41 units of housing, with 25 of them reserved for low-income seniors, Curbed reports.
There will also be 3,194 SF of retail space on the ground level and a community room.
A decade-old building next door, which neighbors had criticized in the past for having too bright an exterior, will hold a laundry room.
The funding was initiated by the LA Housing and Community Investment Department. [Curbed]
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