Dec 1, 2023
Eleos' 187-Unit Mixed-use Project Emerges in South Park
Exciting changes are coming to South Park, just east of the 110 Freeway, as a stretch of commercial buildings is set for a significant makeover.
Traded Editorial
Revitalizing South Park: 187-Unit Affordable Housing Project on the Horizon
Exciting changes are coming to South Park, just east of the 110 Freeway, as a stretch of commercial buildings is set for a significant makeover. The Los Angeles Department of City Planning received an application in October for a major redevelopment project in the area, spearheaded by Eleos, a Los Angeles-based firm with a focus on affordable housing.
Project Details: A New Address at 5001 S. Broadway
The proposed project, located at 5001 S. Broadway, is seeking approvals through Executive Directive 1. If approved, the plan is to construct a seven-story building, housing 187 apartments above a ground-floor commercial space. The mix of studio, one-, and two-bedroom apartments will cater to moderate- and low-income households, with the exception of a single manager's unit.
Additional Features: Parking and Amenities
According to the architectural plans, the 5001 Broadway project will also include 23 at-grade parking spaces and a rooftop amenity deck for residents. The elevation plans reveal a contemporary low-rise structure, adding a modern touch to the South Park area.
South Park's Affordable Housing Landscape
This project is part of a growing trend of affordable and supportive housing developments in South Park. It follows the successful completion of Hope on Broadway, a modular development at 5138 S. Broadway, earlier this year. Eleos has several other affordable housing projects in the pipeline across the City of Los Angeles, including a 42-unit building currently under construction on Soto Street in Boyle Heights.
Conclusion
The proposed development at 5001 S. Broadway is a promising step towards addressing the need for affordable housing in South Park and the wider Los Angeles area. As the city continues to grow and evolve, projects like these are crucial in ensuring that all residents have access to quality, affordable housing options.
Stay tuned for more updates on this and other real estate developments in the Los Angeles area.