The Los Angeles City Council approved the issuance of $59.8 million in tax-exempt and taxable multifamily conduit revenue notes for Peak Plaza Apartments, a 104-unit affordable housing development. The project will serve large families and include one building with seven residential stories and a subterranean parking level. On-site services will include GED classes, resume-writing workshops, and financial literacy programs.
This decision promotes the creation of affordable housing units for large families, addressing critical housing shortages in Los Angeles.