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City Considers Loan to Bring Silver Lake Building Back to Life

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It'll be interesting to see how the neighborhood reacts if this happens: the Eastsider LA reports that a once-handsome, now rundown and empty two-story brick building may be converted into the Vendome Palms, 36 apartments (33 studios, two one-bedrooms, and a manager's apartment) for homeless and mentally ill residents. Supportive housing developer A Community of Friends needs $6.2 million to rehab the 1926 building, across the street from the Los Globos nightclub (the one with the balloon sign). Today, the city's Housing, Community & Economic Development committee is looking into issuing enough bonds to pay for the rehabilitation--according to the official request the apartments will include two case management offices, a community room, a laundry room, a courtyard, and on-site space for the Homeless Health Care LA program. This is the second time the developer tried to make this happen--last time a snafu with federal funding derailed the project.
· Developer Seeks Loan for 36-Unit Project [Eastsider LA]