City of Santa Monica, CA
10/09/2024 | Press release | Distributed by Public on 10/09/2024 16:04
Addressing Homelessness: City Council authorizes Development and Disposition Agreement for 1318 4th Street
October 9, 2024 3:03 PM
SANTA MONICA, Calif. (Oct. 9, 2024) - The Santa Monica City Council Tuesday took another step forward in bringing a 122-unit affordable and supportive housing development to city-owned property on 4th Street.
The proposed development by EAH Housing includes a mix of studio, one, two and three bedroom apartments, including 50 supportive housing apartments, along with ground floor retail and residential and commercial parking spaces.
Individuals and families earning anywhere from 30 to 80 percent of the Area Median Income as well as people experiencing homelessness will be eligible. All individuals must come from the city's Below Market Housing waitlist and the Santa Monica Housing Authority's Permanent Supportive Housing waitlist.
The council action included approval of deal terms and authorization to proceed with a Ground Lease and Development and Disposition Agreement, or DDA, for 1318 4th Street. This site was originally identified for affordable housing development in 2019 and included in the city's 6th Cycle Housing Element for 2021-2029, and the council approved a design concept for the development this spring.
"We look forward to these apartments being built to support our community members in need of affordable housing," Housing and Human Services Director Heather Averick said.
The DDA approval paves the way for EAH Housing to apply for low-income housing tax credits and other funding sources for construction, which is anticipated to begin in winter 2027 and be completed in 2029. The city has committed 50 project-based vouchers for the development, as well as a Housing Trust Fund loan.
The 4th Street property is one of five city-owned sites identified in the Housing Element as locations for affordable and supportive housing. The others are: Wilshire Parking Lots, 4th/Arizona, Bergamot Arts Center and Main Street Parking Lots.
To learn more about the 4th Street development, read the full staff report here.
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Tati Simonian
Public Information Officer
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