"Plans call for 50 units the minimum the developer said it needs for the project to pencil out across four to five stories with an additional rooftop amenity level, according to a presentation by Logan Phillippo, real property development manager for the city. The preliminarily proposed development has 49 one-bedroom affordable units age-restricted for those 55 years and older and one on-site manager's unit, according to the city staff report."
"Beverly Hills City Parking Authority, a city agency providing and managing public parking facilities, acquired the 13,740-square-foot site for $10.1 million in 2019. The Parking Authority will transfer the site to the city via a quitclaim deed. Wednesday's vote allows West Hollywood Community Housing Corporation to demonstrate site control, a requirement for the organization to pursue $3 million in funding from a LA County Affordable Housing Solutions Agency grant."
Beverly Hills voted to enter a one-year exclusive negotiation agreement with West Hollywood Community Housing Corporation for a ground lease at 327–335 South Robertson Boulevard. The developer aims for a long-term ground lease of 55 years or longer and plans a 50-unit building across four to five stories with a rooftop amenity. The preliminary program lists 49 one-bedroom affordable units restricted to residents 55 and older plus one on-site manager unit, and includes retail and private parking. The Parking Authority acquired the 13,740-square-foot site for $10.1 million in 2019 and will quitclaim it to the city. The vote enables site-control demonstration for a $3 million LACAHSA grant application; estimated development costs are $42 million and the site could accommodate up to 80 units.
Read at therealdeal.com
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