LACAHSA Issues First Construction Loan for 120-Unit Affordable Housing Project in Inglewood

The Los Angeles County Affordable Housing Solutions Agency (LACAHSA) has announced the closing of its inaugural construction loan, providing $7.5 million for the Sankofa Place at Centinela project in Inglewood. This mixed-use development, a joint venture between Venice Community Housing, Linc Housing, and the Social Justice Learning Institute, is situated at 400 Centinela Avenue. The total project cost is estimated at $44 million, with funding sourced from various state and local programs.

Sankofa Place will feature 120 units of affordable housing, designed to serve residents earning between 30 and 80 percent of the area median income. Additionally, the development will provide a permanent facility for the Social Justice Learning Institute. State funding also supports associated off-site improvements, including a new east-west bikeway parallel to Florence Avenue and resources for electric buses. Aero Collective and The Architects Collective are handling the design. A groundbreaking ceremony for the project is anticipated in October, marking a significant step for LACAHSA's role in addressing regional housing needs. For developers and lenders, this project highlights a new avenue for financing affordable housing initiatives in Los Angeles County.