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Friday, Mar 29, 2024

$24 million Earmarked for Valley Housing Projects

Los Angeles Mayor Antonio Villaraigosa announced Monday that he plans to release $82 million from a city trust fund to help pay for 21 housing projects for low-income families and seniors. Citywide, the funds will help pay for 1,222 units, including five projects in the Valley: the 64-unit Columbus Square senior apartments and 32-unit Orion Garden large-family apartments both in North Hills and the 69-unit Asturias Senior Apartments, 81-unit Cantabria Senior Apartments and 69-unit Montecito Terraces Los Angeles senior apartments all in Panorama City. Those projects will receive a total of $24.4 million, according to the mayor’s office. The funding will come from the city’s Affordable Housing Trust Fund, which the city pays into each year to finance housing projects. The plan awaits approval from the Committee on Housing, Community and Economic Development and City Council. The motion is scheduled for committee action Tuesday.

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