LOS ANGELES--(BUSINESS WIRE)--Today, EAH Housing, an affordable housing nonprofit organization, and A2Z Enterprises, a minority and woman-owned real estate development firm, broke ground at 7600 South Vermont Avenue. The Pointe on Vermont is a mixed-use affordable housing development with 25 apartments of supportive housing for people who are experiencing or transitioning from homelessness, 24 apartments for low income households, one apartment for an onsite resident manager, and approximately 2,000 square feet of ground floor commercial space.
“Angelenos are coming together to support long-lasting, high-quality affordable and supportive housing that will bring our homeless neighbors indoors now,” said Mayor Eric Garcetti. “The Pointe on Vermont is the latest example of Prop. HHH dollars at work and another reminder of the progress taking place across the City as we confront the homelessness and housing crisis.”
“We are proud to partner with such a forward-thinking and proactive city as Los Angeles, who is really moving the needle forward on tackling homelessness and affordable housing,” said Laura Hall, president and chief executive officer of EAH Housing. “The Pointe on Vermont is a direct result of the community’s desire to help solve the housing crisis – by voting for Measure HHH and voicing their support of this development from day one of this process.”
The four story mixed-use building will provide housing for individuals below or at 60% of the area median income (AMI). It will also have a community room with a kitchen, onsite case management and property management offices, bicycle storage, a retail commercial lease space, and a recording studio in partnership with A2Z Enterprises. St. Joseph’s Center will provide onsite supportive and resident services for all of the residents to help them maintain their health, wellbeing and self-sufficiency.
“My family and I have deep roots in this neighborhood and are dedicated to the economic development of the community,” said Antonia Feemster, president of A2Z Enterprises. “The Pointe on Vermont is a testament to our ongoing commitment.”
“All Los Angeles residents deserve the dignity of having a place to call home,” said Mark Ridley-Thomas, supervisor of District 2. “Ending the crisis of homelessness requires building affordable homes in all corners of our County — innovatively and relentlessly. EAH is part of that solution, and soon 50 more families’ lives will be transformed when they have a place to call their own.”
Funding for The Pointe on Vermont is provided by the city of Los Angeles through Measure HHH, HOME, and Community Development Commission/Housing Authority of the County of Los Angeles, the Los Angeles County Development Authority, conventional debt by US Bank and CCRC, and tax credit equity by US Bank.
“As the coauthor of Measure HHH, I remain committed to working with mission driven organizations to bring quality affordable housing to communities in South LA," said Marqueece Harris-Dawson, councilmember for Council District 8. "I am excited to support the community and witness the transformation of an underutilized lot on South Vermont Ave into The Pointe on Vermont. Soon, this space will provide people with quality homes and services to help them transition into new lives."
A2Z Enterprises is a minority and woman-owned firm specializing in real estate and economic development. A2Z Enterprises’ goal is to refresh and modernize the affordable housing industry by utilizing strategic partnerships and innovative technologies to create units faster and at a lower cost. A2Z Enterprises also works in partnership with Christian Landlord Association to educate landlords on how to manage and maintain their buildings while working closely with tenants to strengthen the larger community.
About EAH Housing
Established in 1968, EAH Housing is one of the largest and most respected nonprofit housing development and management organizations in the western United States. EAH develops low-income multifamily housing, manages more than 110 properties in 55 municipalities in California and Hawaii, and plays a leadership role in local, regional and national housing advocacy efforts.