The partnership, headed by locally based J.H. Snyder Co., will build the project around the Metropolitan Transit Authority's North Hollywood subway station. Plans call for 810 apartments and lofts, as well as 228,000 sf of supermarket and restaurant space.
The project also will include at least 200,000 sf of office space, though Snyder could build more if there's not enough demand for the apartments. The development, called NoHo Commons, would also include a community health-care center, a job-training and placement center, a child-care facility and parking for 3,461 cars.
The $31.7-million package includes both loans and grants. Some of the money will come from the CRA, with the rest coming from the federal government.
The City Council is expected to ratify the deal soon. J.H. Snyder hopes to break ground next May and complete the first phase of the project a year later.
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