Approval for $13.49M Bond Issuance for NoHo 5050, a 40-Unit Multifamily Housing Development at 5050 Bakman Avenue, Los Angeles, CA

• When: 2024/10/29
• Address: 5050 Bakman Avenue, Los Angeles, CA
• City: Los Angeles
• State: CA
• Category: Economic Development Incentives
• Asset Class: Multifamily
• Property Type: Affordable Housing

The Los Angeles City Council approved the issuance of up to $13.49 million in Multifamily Housing Revenue Bonds to finance the new construction of the NoHo 5050 project. Located at 5050 Bakman Avenue in Council District 2, this development will provide 40 units of affordable multifamily housing.

Why it Matters

This bond issuance supports the creation of new affordable housing units in Los Angeles, addressing critical housing needs and contributing to the city's broader affordable housing goals.

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