Developers Plan 900 New Residential Units

LOS ANGELES-Developers are either under way or have unveiled plans for 900 multifamily units that range from a 151-unit conversion of a hotel to brand-new luxury apartments and eight affordable housing complexes by one developer―among them a 21-unit ground-up condominium development. The projects are an indication that, while construction remains stalled in some sectors because of the recession, notably the office market, multifamily has managed to maintain some building momentum.

The largest single project in terms of number of units is the conversion of the 85-year-old Ford Hotel at 1000 E. Seventh St. in Downtown Los Angeles into a 151-unit residence for low-income single residents. Construction is under way on the $12 million conversion of the six-story building, which is being developed by the non-profit SRO Housing Corp. of Los Angeles and designed by Santa Monica-based Killefer Flammang Architects. The conversion is a LEED-equivalent project, according to Bob Timmerman, KFA principal and project manager. Funding for the $12 million project will be provided by the Community Redevelopment Agency, Mental Health Services Act, Affordable Housing Program and tax credits.