Member's Development in Santa Monica is City's Largest in Years
Community Corporation of Santa Monica recently broke ground last week on a new five-story project called The Arroyo that will include 64 apartments available to low-income tenants.
As the Santa Monica Lookout reports, the building will be the largest completely affordable development built in the city in the three years. And, the number of apartments it will add to the city’s affordable housing stock is nearly twice the 34 units added in 2016.
Community Corporation of Santa Monica will develop The Arroyo and manage the property, once it’s completed. According to a brochure from the organization, the project’s apartments will be available to residents making between 30 (or less) and 60 percent of the area median income.