Peak Plaza Brings 104 Affordable Apartments to South LA

Wood framing is climbing skyward at 306 E. Washington Boulevard, where Hollywood Community Housing Corp. is putting up a seven-story affordable housing complex just south of downtown Los Angeles. The Peak Plaza Apartments, which broke ground roughly one year ago, are now taking shape near the Metro A Line and will stack studio to three-bedroom homes above a small ground-floor commercial space.

What Peak Plaza will offer

When finished, Peak Plaza is slated to deliver 104 apartments, with 102 income-restricted homes for households earning 30-60 percent of the area median income and two on-site manager units, according to Hollywood Community Housing Corporation. Planned amenities for residents include two community rooms, on-site laundry, a children’s play yard, a central courtyard, and a pet relief area.

Construction listings also show a subterranean garage with about 51 parking stalls and secured parking for more than 100 bicycles, per the contractor’s project page at United Building Company.

How the project is financed

A staff report to the Los Angeles City Council puts the development’s budget in the high-$70-million range and notes that the Los Angeles Housing Department recommended a Measure ULA Accelerator loan of about $10.08 million as part of the public financing package. According to the report, the project will combine tax-credit equity with city loans to help counter inflation-driven construction and labor costs that have pushed per-unit spending higher.

Where it fits on Washington Boulevard

Recent coverage points out that wood framing is now rising on the site and that staff materials suggest a roughly $740,000 per-unit price tag, a figure the city links to larger-than-typical unit sizes, demolition requirements, and required ground-floor community space. As reported by Urbanize LA, the property sits just east of AMCAL’s La Prensa Libre at 220 E. Washington Boulevard, part of a growing run of A Line-adjacent affordable housing.

Hollywood Community Housing’s 2024 impact report states that construction began in January 2025 and lists Peak Plaza among the projects expected to reach completion in the coming years, which puts potential move-in dates around 2027 if everything stays on schedule. The development is set to add family-sized affordable units to a corridor city planners have prioritized for transit-served housing.