8TH STREET LOFTS BUSINESS INCENTIVE GRANT
800 S. Pacific Avenue
Harbor Region, Pacific Corridor
Redevelopment Project Area | CD 15

Developers:
Port Harbor Holdings, LLC
Total Housing Units:
8 | Construction Jobs Created (est.):  15

Total Project Cost:
$2.5 million 
CRA/LA Investment: $50,000 Business Incentive Grant

This two story building was acquired in 2007 and then converted from office/retail to residential loft/retail and completed in March 2009.  The mostly vacant building was previously occupied by a swap meet and a 99 cent store.  Today, all the residential units are occupied and the ground floor retail features a café/restaurant, shops and a hair salon.  CRA/LA provided a business incentive grant that funded code required improvements to the electrical and fire/life safety systems.  This project has become an economic catalyst for Pacific Avenue.

ALEXANDRIA HOTEL
501 South Spring Street
Downtown Region, City Center
Project Area | CD 14

Developers:
Amerland | www.amerland.bz
Total Housing Units:
463 | Construction Jobs Created (est.): 236

Total Project Cost:  
$57 million
CRA/LA Investment:  Loan Agreement for $11.9 million and Bond Issuance

This project involved the rehabilitation of a historic landmark hotel, built in 1906, into permanent affordable housing with commercial uses on the ground and second floor.

ALEXANDRIA HOUSE
510 S. Alexandria Ave.
Hollywood & Central Region, Wilshire Center / Koreatown
Project Area | CD 4

Developers:
Alexandria House & Hollywood Community Housing Corporation
Total Housing Units: 16
Construction Jobs Created (est.): 38

Total Project Cost:
$6 million 
CRA/LA Investment:  Loan Agreement for $2.7 million

This small housing project included the purchase and rehabilitation of a blighted, vacant building to provide permanent housing for families who are rebuilding their lives from extremely difficult circumstances including poverty, domestic violence, homelessness, and human trafficking. Onsite services include childcare, after-school programs, and case management for homeless individuals and families.

ALVARADO STREET CORRIDOR
PUBLIC IMPROVEMENT PROJECT
Alvarado St. Corridor from Hoover to 3rd Streets
Hollywood & Central Region, Westlake Project Area
CD 1 & 13

Construction Jobs Created (est.): 11

Total Project Cost: $2.1 million
CRA/LA Investment: $1.1 million

This project implemented streetscape improvements to the street, sidewalks, and curbs along Alvarado Street. Improvements included the installation of decorative crosswalks and intersections, as well as trees, street furniture, and pedestrian lights; removal of cracked and broken sidewalks, curbs and gutters; and the elimination of numerous pedestrian hazards.

 

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