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).
- Ample parking will be provided for residents 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 from the Miramar Santa Monica. The building also includes 87 on-site bicycle parking spaces as well.
- $10,000 per year in additional support services for residents.
- North of Wilshire, Downtown Santa Monica location, near transit and two blocks from the beach.