The City of Los Angeles is considering the issuance of Multifamily Housing Revenue Bonds, not exceeding $180,000,000, for the Hollywood & Vine Apartments project. This project involves the acquisition, construction, rehabilitation, and equipping of a 375-unit multifamily housing development located at 1600 North Vine Street in Council District 13. Seventy-five of these units will be affordable housing, catering to low and moderate-income individuals and families. The Los Angeles Housing Department held a TEFRA public hearing on February 13, 2025, as part of the bond issuance process. The City Council is being asked to approve the issuance of these bonds. DWF V Hollywood & Vine, L.P. is the sponsor and owner of the project.
This decision is significant as it facilitates the creation of 375 multifamily housing units, including 75 affordable units, in Los Angeles. The substantial bond issuance of $180 million supports housing supply and addresses the need for affordable housing for low and moderate-income residents in the city.