Oct 15, 2024
The Santa Monica City Council has a development and disposition agreement for the former site of Parking Structure 3 at 1318 4th Street, clearing the way for EAH Housing to begin seeking public financing for a proposed affordable housing complex which would rise on the property.
A design concept approved earlier this year calls for the site to be developed with a new six-story building featuring 122 studio, one-, two-, and three-bedroom apartments – including 50 units of supportive housing – atop ground-floor commercial space and subterranean parking for 116 vehicles.
The apartments are to be reserved for individuals and families earning at or below 30 and 80 percent of the area median income level, and will be sourced from city waitlists.