Hollywood Developer Proposes 5-Story Affordable Housing Project in Hollywood's Studio District
Looks like Hollywood's Studio District may be getting a new affordable housing development courtesy of HVN Development, who recently filed an application with the Los Angeles Department of City Planning for a five-story residential project on a single-family lot.
Hollywood Developer Proposes 5-Story Affordable Housing Project in Hollywood's Studio District
Looks like the Hollywood Studio District may have a new affordable housing development on the horizon, as HVN Development has filed an application with the Los Angeles Department of City Planning for a five-story residential project on a single-family lot.
The proposed development, located at 5655 West Lexington Avenue, would comprise of 67 units of 100% affordable housing. The developer, HVN Development, specializes in apartment and housing projects and is based in Irvine.
The 15,000-square-foot site is currently owned by Calabasas-based Veloce Enterprise and is home to two single-family homes and a garage. The plans call for the demolition of these structures to make way for the proposed development near the corner of Lexington Avenue and Wilton Place.
While the project aims to provide much-needed affordable housing in the area, it is not without its critics. Some residents have expressed concerns over increased density and traffic in the neighborhood. However, HVN Development remains optimistic, stating that they are committed to working with the community and city officials to address any concerns and make this project a success.
As with any development in Los Angeles, there are always questions of influence and soft corruption. But for now, it seems that Hollywood's Studio District may soon be welcoming a new affordable housing project, whether its residents like it or not.