A proposed $2 billion affordable housing project in Woodland Hills would bring nearly 3,500 units, primarily for low-income seniors, across four high-rise towers.
from WED 10:00 AM PDT until THU 8:00 PM PDT, Riverside County Mountains, Santa Ana Mountains and Foothills, Orange County Inland, San Bernardino County Mountains, San Bernardino and Riverside County Valleys-The Inland EmpireA proposed $2 billion affordable housing project in Woodland Hills would bring nearly 3,500 units, primarily for low-income seniors, across four high-rise towers.
A proposed $2 billion affordable housing project in Woodland Hills would bring nearly 3,500 units, primarily for low-income seniors, across four high-rise towers. Mayor Karen Bass said the project is moving forward through the city's ED1 policy and will be financed through public-private funding rather than the city's general fund.
The development is expected to take about three years for its first tower and has raised questions about its impact on traffic and parking.skyline, with four high-rise towers planned for the Warner Center area and nearly 3,500 units aimed primarily at low-income seniors. The project, called Viva L.A.
Warner Center, carries an estimated $2 billion price tag and would include towers ranging from 34 to 42 stories tall.spoke exclusively with FOX 11 about the project, calling it a major step toward addressing Los Angeles’ affordable housing shortage.
"I’m extremely excited. You’re talking about 3,000 units of affordable housing for senior citizens," Bass said. Bass said the project is moving forward through her Executive Directive 1 housing policy, which streamlines approvals for qualifying 100% affordable housing developments. Because of the policy, the project can bypass the typical public hearing process if it meets city requirements.
"It was the beginning of slashing as much red tape as possible," Bass said. "It’s public-private, but it’s also what they have raised. It’s not like it’s coming from the general fund of the city," Bass said. Wellpointe CEO and co-founder George Kutnerian said the project will rely on a combination of financing sources, including tax-exempt bonds, low-income housing tax credits, private investment , and federal HUD-insured financing.
The development is planned for a site along Canoga Avenue in Warner Center. Los Angeles City Councilmember Bob Blumenfield said the location was selected because of its existing density.
"It’s not in a single-family neighborhood. All the buildings around it are dense buildings," Blumenfield said. The project would bring nearly 3,500 residential units, with most expected to serve low-income seniors.
"By 2030, one million Angelenos will be 60 and over," Kutnerian said. During the unveiling, Bass also addressed the city’s homelessness crisis and open drug use on the streets. In her remarks, Bass said some people experiencing homelessness use methamphetamine to stay awake at night because they fear falling asleep outside.
"You sleep out on the street for a couple of weeks and tell me you’re not using something to stay sane, or use meth so you don’t go to sleep to protect yourself," Bass said. After the speech, FOX 11 asked Bass to clarify whether she was saying people use meth for protection.
"No, what I said is I know people have used meth to stay awake at night so they don’t fall asleep because they’re worried about protection. Meth isn’t protection," Bass said.
"My goal has always been to end street homelessness," Bass said. "We’ve had bumps along the way, especially with funding, and we’ve had changes on the federal level. But regardless, we’re going to stay with it.
" The project also faces questions about its impact on the surrounding community, including traffic and parking. Current plans call for about 800 parking spaces, and developers estimate the first tower could be completed in approximately three years.
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