Housing Diversity Corp. Brings Micro-Housing to Hollywood
The developer has broken ground on an affordable housing project located within an Opportunity Zone.
1621 North McCadden Place. Rendering courtesy of Housing Diversity Corp. and Steinberg Hart
Housing Diversity Corp. has begun construction on an eight-story, 69-unit micro-housing development in an Opportunity Zone in Hollywood, Calif. The project, at 1621 North McCadden Place, is the second micro-housing development in the Los Angeles area planned by Housing Diversity and architecture firm Steinberg Hart.
Located at 1621 N. McCadden Place, the project is close to the intersection of Hollywood Boulevard and Highland Avenue and will replace an underutilized commercial space, bringing much-needed new housing stock for renters in the “missing middle.”
Brad Padden, founder of Seattle-based Housing Diversity Corp., said there is a lack of housing options for middle-income earners in the Los Angeles area. He said, in a prepared statement, the firm is bringing the micro-housing style it pioneered in Seattle to Los Angeles. The development, once completed, will have 37,139 square feet of space, with units priced for individuals earning below 120 percent of the Area Median Income (AMI). Eight of the apartments will also be reserved as extremely-low-income units.
The multifamily property is being designed by Steinberg Hart, which has created some of the city’s most recognizable residential communities including Vision on Wilshire, 3033 Wilshire Tower and AMP Lofts. Housing Diversity and Steinberg Hart recently submitted plans for 1317 S. Grand Ave., another micro-housing project in a Los Angeles Opportunity Zone.
Steinberg Hart has designed the units with functionality in mind. Features will include Class A finishes such as quartz countertops, luxury vinyl plank floors, solid wood doors and tile-surround bathtubs and showers. The project is also being designed for living both during and after the pandemic. The units have self-contained air flow which will promote a healthy and affordable private alternative to shared living. There will also be keyless entry to the building and units, and private balconies in 90 percent of the apartments. Community amenities will include multiple levels of outdoor space, including a rooftop deck with barbecue areas, an indoor/outdoor lounge and a flexible co-working space with connected outdoor area.
The property is considered a Tier-4 transit-oriented community development and is located near both the Hollywood/Highland and Hollywood/Vine metro stations.
Construction and development services are being provided by STS Construction and Development. The company, which is based in both Los Angeles and Seattle, is also a partner in the project and has worked with Housing Diversity Corp. on micro-housing developments in Seattle.
