"We see Lanewood Pines as the forerunner in a new era for Hollywood that will see more people moving back to the area's renovated and re-emerging neighborhoods. Although most of the apartments at Lanewood Pines will rent for $625 to $1,295 a month, 13 of the units are reserved for moderate-income residents who will pay $533 to $700 a month if they meet certain guidelines."
"For example, single people making $16,000 a year or less can qualify for the below-market rents, and a family of four can qualify if household income doesn't exceed $26,500. The lower rents are made possible by bond financing provided by the Community Redevelopment Agency."
"The six-story structure was designed by Van Nuys-based architects Robbins & Bown Inc. The architects designed the building as a modern version of a French country home, with decorative circular windows and a mansard roof. Its French gray stucco interior is highlighted by persimmon-colored handrails."
Lanewood Pines, an $8-million apartment complex located one block north of Sunset Boulevard in Hollywood, officially opens as the first project in the area's nearly $1-billion redevelopment initiative. The six-story building contains 79 one- and two-bedroom units, with most renting between $625 and $1,295 monthly. Thirteen units are designated for moderate-income residents paying $533 to $700 monthly, available to individuals earning $16,000 annually or families of four earning up to $26,500. The Community Redevelopment Agency's bond financing enables these below-market rates. Designed by Robbins & Bown Inc., the French country-inspired structure features decorative circular windows, mansard roofing, and French gray stucco. Units include vaulted ceilings, balconies or patios, with some featuring lofts.
#hollywood-redevelopment #affordable-housing #mixed-income-housing #urban-revitalization #community-development
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