The $32-million development, located at 4050 S. Figueroa Street, will consist of a five-story building featuring 56 units of affordable housing priced at the low- and very low-income levels. Rents for the studio apartments will are to be set at $473 per month for very low-income households and $788 per month for low-income households.
The contemporary low-rise structure is being designed by Egan Simon Architecture, which has a Los Angeles office in the Playa del Rey community.
The RISE apartments, which are being built with participation from local non-profit organization RISE, is part of the first round of affordable housing developments funded by Measure HHH, the citywide sales tax measure passed to combat homelessness in 2016.