Construction has started on a $32-million supportive housing complex for homeless veterans in Exposition Park, located in the south region of Los Angeles, Calif., reports the Los Angeles Wave Newspapers.
The RISE Apartments, at 4050 S. Figueroa St., is designed for people making 30 to 50 percent of the area median income.
The development will include 56 fully furnished residential units, a community room, a residential courtyard, roof terraces, bike storage, onsite management and laundry site. In addition, the construction of the building will have solar panels installed and be green certified.
Construction is expected to be completed in about 18 months.
“Affordable housing is a big issue in Los Angeles and this is our way of contributing to that end goal,” Hassan Nicholas, director of Micro Enterprise Initiatives at RISE Financial Pathways, said. RISE is the nonprofit community development financial institution organizing the project alongside Highridge Costa Development and housing developer Single Room Occupancy Housing Corp.
