CANOGA PARK, VAN NUYS, NORTH HOLLYWOOD, CALIF. — Alliant Strategic Development has broken ground on four affordable housing properties in the San Fernando Valley area of Los Angeles.
The properties, which include 727 total units, are Sync on Canoga, comprising 220 one-bedroom units in Canoga Park; Pendant on Topanga, consisting of 149 studios, one- and two-bedroom units also in Canoga Park; Vose, which will include 332 studio, one- and two-bedroom units in Van Nuys; and Cadence at Noho, consisting of 26 one- and two-bedroom units in North Hollywood.
Of the 727 units, 144 will be reserved for renters earning 50 percent or less of area median income. A construction timeline and project cost were not disclosed. All four developments are being financed with bonds issued by the California Municipal Finance Authority and California Housing Finance Agency. Amenities at the properties will include fitness centers, rooftop decks, electric-vehicle charging stations, pools, outdoor lounge areas and dog parks.
Sync on Canoga, Pendant on Topanga, Vose and Cadence at Noho are all located in opportunity zones and are close to mass transit, including Metrolink Sherman Way Orange Bus Line station and multiple stops along the future Metrolink East San Fernando Valley Light Rail line.