West Hollywood : Homes for Those With AIDS
The City Council on Monday approved a three-year loan for the West Hollywood Community Housing Corp. to help finance construction of an affordable housing project reserved primarily for people with AIDS.
The 22-unit Harper Avenue project is the first of its kind in the state. It will provide a number of special features, including bedrooms with extra room for medical equipment and an emergency call system throughout the building. Rents will be about $270 a month.
The $753,724 loan represents an advance on the equity to be raised by private investors who will finance about one-third of the $3.2-million project over a three-year period.
The private investment has been made possible through a tax credit awarded to the housing corporation by the federal government.
The remainder of the funding will come from money set aside through the state Rental Housing Construction Program and a state replacement-housing program that is part of the Century Freeway construction project.
The Housing Corp. hopes to break ground on the project by the end of July. Construction is expected to take about a year.
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