(Mark Your Calendars: RealShare REAL ESTATE 2012, March 22nd in Los Angeles).

LOS ANGELES-Built more than 80 years ago, the Ford Hotel completed a $28-million facelift and looks brand new. The newly completed renovation of the downtown eastside landmark included a transformation of the six-story building into housing for 151 low-income residents.

Developed by the non-profit SRO Housing Corp., the project at 1000 E. 7th St., now called “The Ford,” was funded by grants from the county Department of Mental Health, Community Redevelopment Agency and tax credits, according to Joseph Corcoran, SRO’s director of planning and housing development.

In a prepared release about the renovation, the police were quoted as saying that “in its former existence, the hotel became increasingly distressed, ultimately becoming one of the worst drug-trafficking locales in Los Angeles. Now, Ford residents include formerly homeless people suffering from mental illness and low-income residents earning up to 50% of the Area Median Income—about $60,000.

The renovation, designed by Killefer Flammang Architects, has created highly functional light housekeeping units of 175 square feet—with kitchenette and full bathroom. “Built in 1925 as a hotel with 295 units, the badly deteriorated structure had to be totally gutted and even required replacement of its rotted columns,” explains architect Wade Killefer, whose firm has designed more than 4,000 units of low-income and special needs housing in addition to numerous market-rate projects.

A LEED equivalent project, the board-formed, reinforced concrete building was refurbished with new concrete shear walls, steel stud interior framing and aluminum frame windows with energy efficient glass. The original light court was extended from the second floor to ground level, enabling sunlight to reach a landscaped courtyard surrounded by the units and common areas.

There is no question that projects such as the Ford are going to find tough sledding in California in the future as a result of the recent court decision, says Killefer. “Redevelopment funds were always the first layer of financing for affordable housing; thus the demise of redevelopment is going to stop the construction of most affordable housing.”

Killefer continues that “This is well known by the Sacramento legislators, and various vehicles are being discussed as replacement agencies,” he says. “Timing will become critical as deadlines for Federal Tax Credits come and go.”

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.