\n The selected bid for the Collins Elementary School property came from Affirmed Housing<\/a>, which is planning a project including 391 one-, two-, and three-bedroom apartments with 550 parking spaces. The apartments would be reserved for renters earning between 30 and 120 percent of the area median income level.<\/p>\n Under the proposed agreement, Affirmed Housing would pay $150,000 in ground lease deposits during predevelopment and construction, then $250,000 per year afterward, with lease cost escalating by 2.5 percent per year. However, those terms, as well as project details, could change during the negotiating period.<\/p>\n Affirmed Housing anticipates breaking ground in Summer 2029 and completing construction in Summer 2031.<\/p>\n \n The Board approved the selection of West Hollywood Community Housing Corp. <\/a>to redevelop the Fairfax Avenue site. Plans call for the construction of 207 studio, one-, two-, and three-bedroom apartments – also reserved for renters earning between 30 and 120 percent of the area median income level – with parking for 250 vehicles and ground-floor commercial space.<\/p>\n The proposed agreement, which remains subject to change, would involve a $10-million payment to LAUSD following construction, and then annual rent starting at $20,000 escalating at 3.5 percent per year. LAUSD would also receive a share of commercial income from the property.<\/p>\n The project is expected to commence work in Summer 2028 and open by Summer 2030.<\/p>\n \n Moving forward, both project teams are expected to continue negotiating final development agreements with LAUSD, while also engaging in the entitlement process and search for financing.<\/p>\n Follow us on social media:\u00a0<\/p>\n Twitter<\/a>\u00a0\/\u00a0Facebook<\/a> \/ LinkedIn<\/a> \/ Threads<\/a> \/ Instagram<\/a> \/ Bluesky<\/a><\/p>\n<\/a>
\nRendering of Collins SiteLAUSD<\/p>\n<\/a>
\nRendering of Fairfax siteLAUSD<\/p>\n<\/a>
\nRendering of Fairfax siteLAUSD<\/p>\n