The City of Los Angeles has authorized the issuance of an additional $1.1 million in supplemental tax-exempt multifamily conduit revenue notes for Oatsie’s Place, a supportive housing project located at 16015 Sherman Way. The project involves the demolition of a vacant office building and the construction of a four-story apartment building comprising 46 units, including 45 affordable housing units for women experiencing chronic homelessness and victims of domestic violence, and 1 manager’s unit. The development, utilizing steel modular construction, aims to provide safe and supportive housing with various amenities such as community spaces, service offices, a learning center, and security features.
The issuance of these notes is crucial to provide necessary funding for the completion of Oatsie’s Place, which addresses the critical need for supportive housing in Los Angeles, particularly for vulnerable populations such as women experiencing homelessness and domestic violence. The project aligns with the city's broader efforts to combat homelessness and provide stable housing solutions.