The Miramar Santa Monica is partnering with Community Corporation of Santa Monica to bring an 100% Affordable Housing Building North of Wilshire on Second Street. This location is directly across from the Miramar Hotel.
- Community Corporation of Santa Monica will own and operate the affordable housing following the donation of the 15,000 sf parcel valued at $12.7M.
- The building will deliver 42 affordable housing units, with over 60% family sized units (two- and three- bedrooms) with an average bedroom count of 1.88 per unit.
- The proposed 70% of market rate units is nearly three times the DCP requirement of 25%.
- The 42 affordable housing units will be about 60% of the total affordable housing projects completed in the City over the last two fiscal years (according to the City’s annual Prop R reports).
- Residents will be able to park in a new underground parking structure with access from Second Court Alley. For the residents who forgo an underground parking spot, they will be provided with public transportation passes.
- North of Wilshire, Downtown Santa Monica location, near transit and two blocks from the beach.