Hollywood : Housing Loan Approved
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The city’s Community Redevelopment Agency has approved a $1-million “predevelopment” loan for a 24-unit affordable housing complex in Hollywood, which will feature an on-site social service agency.
The action last week by the CRA Board of Commissioners, pending City Council approval, will provide start-up funding to allow the nonprofit Hollywood Community Housing Corp. to develop the Carlton Apartments for low-, very low- and moderate-income residents and families.
The $4.1-million complex is to be built on a vacant site at 5417 Carlton Way, near Western Avenue and Hollywood Boulevard. Rents will start at $415 a month, according to CRA officials.
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