Developer Eleos Ventures has plans for a four-story, 40-unit affordable housing project to rise in the South Los Angeles neighborhood of Florence, according to plans filed with the city of Los Angeles this month.
The proposed development would take shape at 7655 – 7661 S. San Pedro Street, replacing a duplex and a commercial building with a new, approximately 23,000-square-foot, 50-foot-tall apartment community, plans show.
The project would include 37 residential units for low-income households, one for a very low-income household, one for an extremely low-income household, and one market-rate manager’s unit, according to planning documents.
The developer is seeking several incentives through the city’s transit-oriented communities program, including an 11-unit density bonus and an eliminated parking requirement. The proposed project’s unit mix would consist of 27 one-bedrooms and 13 two-bedrooms.
Plans also call for about 1,730 square feet of common open space, including a courtyard and a landscaped rear-yard with common-area seating options like picnic benches. Space for 49 bicycles would also be provided.
An offshoot of real estate investment company Oak Road Capital, Eleos is the developer behind multiple other apartment plans, including a recently approved proposal for a 53-unit project near the intersection of South Main Street and East 47th Place.
