Forest City Residential West's seven-story project will rise at 11th and Flower streets, a block east of Staples Center. The 200,000-sf complex received the city council's approval a few weeks ago.
A similarly sized project proposed for another downtown site was dealt a serious setback last week, when the city council told developer J.H. Palmer Associates that at least 15% of the units in Palmer's project would have to be reserved for low-income tenants. J.H. Palmer wants to build only market-rate apartments, which would likely fetch more than $2,500 a month, instead of renting some of the units for only a few hundred dollars each month to low-income tenants.
Forest City's project will feature only market-rate rentals, as well. But unlike Palmer's project, the council approved Forest City's plans because it would rise on a block that already has a high concentration of affordable housing.
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