Housing Diversity Corporation Expands Presence In Southern California

LOS ANGELES, Nov. 11, 2021 /PRNewswire/ -- Housing Diversity Corporation (HDC) provides forward-thinking, attainably priced alternatives to traditional apartment living in urban centers. Today, the company announced it is powering ahead with several Los Angeles projects in various stages of development, accumulating new milestones by the day. All the projects are in Qualified Opportunity Zones aimed at addressing the severe market gap for low- to middle-income wage earners. Some of HDC's L.A. projects include:

• 1411 S. Flower St. - A 227-unit development in the South Park neighborhood of Downtown L.A. Entitlements were received in October.
  
• 6766 Hawthorn Ave. - A 58-unit development, adjacent to 1621 N. McCadden Place in Hollywood, with a focus on offering housing that is attainably priced for employees of the creative and service industries. Entitlements were submitted in October.
  
• 1621 N. McCadden Place - A 69-unit development in Hollywood currently 5 months away from construction completion.
• 
  603 S. Mariposa Ave. - A 92-unit development in L.A.'s Koreatown neighborhood. Entitlements were submitted in early November.

These exciting projects are developed in partnership with  STS Construction and architecture firm Steinberg Hart. They're strategically located near employment centers and incorporate the city's Transit Oriented Communities (TOC) Incentive Program. The latest in a growing number of projects developed by HDC in major West Coast urban settings, focused on reaching social and environmental impact goals and providing safe, modern and efficient living spaces.

HDC has recently opened an office at 1140 S. Hope St in downtown Los Angeles to support its fast growing Southern California pipeline and has additional projects in Seattle in various stages of development with plans to expand to other West Coast markets.

"We are thrilled to make such great progress in Los Angeles," said Brad Padden, CEO and founder of HDC. "Receiving our latest round of entitlements for 227 attainably priced homes at 1411 S. Flower St. shows we can successfully permit innovative housing projects in L.A." These new entitlements highlight a fast-growing pipeline of new, middle-income rental housing in premier locations. "We feel we are truly making a difference by following through on our mission of providing attractive, attainable, and sustainable housing in urban centers, and we can't wait to share more details around some of the other exciting projects we have in the works."

"One of the most innovative aspects of what we are doing is zero parking for the housing," said Simon Ha, managing partner at Steinberg Hart. "We are taking advantage of the mass transit that took billions of dollars of taxpayer investment and putting middle income housing next to it. Taking parking out of the housing development equation will result in lots of housing built on smaller parcels at a much lower cost. We hope to prove to the auto dependent LA culture that there are Angelinos who can and want to live without a car."  

To highlight its mission and the need to address the "missing middle" in urban housing, the HDC team will release an in-depth social impact report later this month, based on responses from current residents. Notable findings include that 87% of HDC's residents say that affordability is the most critical factor when looking for a new residence. (If you are interested in a preview of the full report, please reach out to [email protected].)

To learn more about HDC and how to be a part of its vision, please visit www.housingdiversity.com.

About Housing Diversity Corporation (HDC)
HDC is a housing innovator that offers a vibrant and inclusive urban living experience, providing a forward-thinking alternative to traditional apartment living in urban centers. Its developments—clean, modern living spaces located near employment centers and transit—are designed and built with a focus on increased environmental sustainability and resident wellbeing. HDC currently has developments in Los Angeles and Seattle with plans to expand to other West Coast markets and a goal of creating 20,000 of its homes by 2030, all with naturally occurring affordability. For more information, please visit www.housingdiversity.com.

About Steinberg Hart
Steinberg Hart is an international architecture, interiors, and planning firm headquartered in Los Angeles. The firm has built a diverse and talented team that works collaboratively across all seven offices challenging one another to develop designs that build community, enhance business, support learning, and connect people with place. Steinberg Hart is known for innovation in design thinking and building technologies that help clients realize the full potential of their project. To learn more, visit www.steinberghart.com.

For HDC media inquiries, please contact:
Kyle Wall, Fearey for Housing Diversity Corporation
206.838.9212, [email protected]

For Steinberg Hart media inquiries, please contact:
Kiana Karn, NINICO Communications
[email protected] 

SOURCE Housing Diversity Corporation

Related Links

http://www.housingdiversity.com