The Bungalow Gardens project offers an opportunity to invest in real estate while helping to innovate small-scale, privately-financed solutions to Los Angelesâ homeless crisis.
Restore Neighborhoods LA (RNLA) will act as both the developer of the project and manager of the issuing entity, South Central Bungalow Gardens, LLC (âBungalow Gardensâ), an entity wholly owned by RNLA. The developer plans to build eight units on a vacant lot in South Los Angeles and will rent these units to formerly homeless individuals. The development site, which RNLA currently owns, is 9,300 square feet, located at 920-922 W 81st Street.
The site will be developed with four one-bedroom units and four studio units, arranged in four free-standing duplex structures, designed around a common courtyard. Each unit is planned to be approximately 345 square feet in size. These compact and dignified small homes are inspired by the bungalow court housing typology that was the predominant form of multi-family housing in Southern California from the 1900s through the 1920s.
Because of the projectâs design and financing innovations, Bungalow Gardens was recognized in January 2019 as a winner of the Los Angeles County Housing Innovation Challenge. The project will take advantage of the newly enacted Transit Oriented Communities Affordable Housing Incentive Program (TOC Program) which allows reduced on-site parking for projects located near high-quality transit. Bicycle and car parking will be located at the rear of the property adjacent to an alley.
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