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Press and Media |
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PRESS RELEASE
HOLLYWOOD COMMUNITY HOUSING OPENS VIEWS AT 270, LANDMARK MIXED-USE
DEVELOPMENT IN HOLLYWOOD
Hollywood, California -- Hollywood
Community Housing Corporation (HCHC), a nonprofit, public benefit
organization, held the Grand Opening for ‘Views at 270’
on April 29, 2005. ‘Views at 270’ is a mixed-use development
that combines a Walgreens Drug Store with 56 affordable housing
units above to Hollywood at Sunset and Western. This is the first
project in Los Angeles to combine a national retailer with purely
affordable housing, a complex transaction for a non-profit affordable
housing entity that marks a major leap forward in building inclusive
communities in Los Angeles. Speakers at the event included California
State Treasurer Phil Angelides, Assemblymember Jackie Goldberg,
Councilmember Eric Garcetti, Citibank Vice President Lisa Barrett,
and Supervisor Zev Yaroslavsky. 
“Views at 270” is an example of the future direction
for the development of affordable housing in Los Angeles,”
said Bill Harris, executive director of HCHC. “Our partnership
with a commercial developer allowed HCHC to avoid the high cost
of purchasing land in the Los Angeles area and the community benefits
with the addition of attractive and affordable housing combined
with jobs and retail opportunities.”
Village Properties, a commercial developer, purchased the land located
at the northeast corner of Sunset Blvd. and Western Avenue, and
HCHC acted as the master developer responsible for constructing
the retail space, affordable housing and subterranean parking in
return for the development and ownership of the housing above the
Walgreens.
“By encouraging neighborhood redevelopment and investment
into affordable housing for families, we can breathe new life into
struggling neighborhoods, and encourage the kind of growth that
will sustain California’s economy and environment for years
to come,” said State Treasurer Phil Angelides, Chair of the
California Debt Limit and Tax Credit Allocation Committees that
invested a combined $14-million dollars in tax exempt bonds and
tax credits toward the project.
“Affordable housing isn’t what it used to be. ‘Views
at 270’ represents the best of urban thinking and innovative
design. I have profound admiration for the CRA, Village Properties
and HCHC for their vision in shaping the Hollywood of the future,”
said Hollywood City Councilman Eric Garcetti.
Views at 270, designed by M2A Milofsky and Michali Architects, offers
56 affordable apartments comprised of eight one bedroom, 26 two
bedroom and 22 three bedroom units. The day applications for the
units became available more than 3,000 people lined up, highlighting
the desperate need for clean, safe, affordable housing in Los Angeles.
Residents began moving into their new homes in May.
“Views at 270 is a great example of the good that results
when public, private and non-profit organizations come together
to address the city’s most pressing problems,” said
Lisa Barrett, Executive Vice President of Citibank West. “As
one of the many who made this project a reality, we at Citibank
and Citibank Community Development are proud of HCHC’s efforts
to keep our neighborhoods vibrant, vital, diverse and accessible
to people at all income levels.” Citibank Community Development
was also the sponsor of the grand opening.
General contractor Benchmark Contractors began construction on the
$20 million development in October 2003. The construction team also
included Swinerton Management and Consulting and Levine Management
Group, Inc.
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