The AIDS Healthcare Foundation and the Coalition to Preserve L.A. reached a settlement with the developer of a 22-story Hollywood apartment complex to have the building offer 45 units to very-low-income, moderate-income and workforce-income tenants, AHF announced Thursday.
CIM Group, the developer of the 299-unit building located at 5929 Sunset Blvd., agreed to lower income thresholds for the 45 below income units as follows:
— 15 units will be for very-low-income tenants with the maximum allowable income at 40% of area median income, or for people making $29,320 a year;
— 15 units will be for moderate-income tenants with the maximum allowable income at 80% of AMI or $58,640 a year; and
— 15 units will be for workforce-income tenants with the maximum allowable income at 110% of AMI.
Previously, the 45 units were for 50%, 120% and 150% AMI. In July and December 2019, AHF filed writs of mandate against the developer, the city and the Community Redevelopment Agency alleging that the building plans did not meet the California Environmental Quality Act, the Hollywood Community Plan and Redevelopment Plan due to inadequate affordable housing.
“This is a welcome victory in the ongoing battle to try and preserve and create affordable housing solutions across Los Angeles,” said Michael Weinstein, president of AHF. Given the dire state of housing affordability Thursday, we thank 5929 Sunset LLC for its flexibility and for significantly reducing income thresholds tied to area median income for the 45 units set aside as affordable housing at Sunset Gordon. We remain deeply concerned about gentrification and its impact on long-established communities, particularly low-income and communities of color. Nevertheless, this settlement allows both sides to claim victory, as the project may now also move forward to completion and occupancy.”
The developer also agreed to provide AHF and the Coalition to Preserve L.A. with copies of reports sent to the Los Angeles Housing & Community Investment Department.
AHF and CPLA dismissed their lawsuit on Wednesday following the settlement.