On a long-empty stretch of Ventura Boulevard in Woodland Hills, a new all-affordable apartment project is lining up to join the neighborhood’s growing cluster of income-restricted housing.
Samuelian Group is pitching Valleris on Ventura, a seven-story, 96-unit building that would rise on a vacant lot and bring one-, two- and three-bedroom apartments stacked over parking for about 63 vehicles. One unit is slated for an on-site manager, with the remaining homes reserved for low- and moderate-income renters. If it gets the green light, the building would sit next to a recently completed 100-unit affordable complex and further bulk up the Warner Center corridor’s affordable housing pipeline.
As reported by The Real Deal, Los Angeles-based Samuelian Group has submitted an application to the Department of City Planning for the 23022–23032 Ventura Boulevard site, seeking citywide housing incentives and density bonuses to exceed what current zoning would normally allow. The filing identifies the project as a 100 percent affordable development, which would qualify it for streamlined approvals under the city's fast-track rules.
Project details and design
Renderings from DFH Architects show a podium-style building, with residential levels stacked above and wrapped around a parking podium. According to Urbanize Los Angeles and the developer's project page, the plan calls for a mix of one-, two-, and three-bedroom layouts and is set up as a fully income-restricted community. Samuelian Group's own project listing shows Valleris on Ventura as an active in-development effort.
Funding and timeline
A county funding memo recommends a $16,897,456 award to help close the project’s financing gap and pegs the total development cost at roughly $78.3 million. The same memo notes that 58 of the 96 apartments would be reserved for extremely low-income households and lays out a tentative schedule, with construction projected to start on January 2, 2027, and permanent conversion targeted for June 30, 2029, according to LACAHSA.
The development appears on the state’s low-income housing tax-credit application list, per the State Treasurer. It also landed on the California Municipal Finance Authority’s January agenda, which included a proposed authorization of up to $25 million in revenue bonds for the project, according to the CMFA agenda.
Neighborhood context
Valleris on Ventura would rise directly east of a newly built 100-unit affordable complex at 23036–23060 Ventura Boulevard, developed by Daylight Community Development, according to Urbanize Los Angeles. Together, the projects underscore a wave of affordable housing proposals in Warner Center as the city pushes master-planned redevelopment and investors reposition properties in the area, as noted by The Real Deal.
What happens next
The application now heads into the city’s planning intake process and the usual gauntlet of financial underwriting. If the project is formally certified as 100 percent affordable, it could be eligible for expedited review under Mayor Karen Bass's Executive Directive 1, which is intended to speed approvals for income-restricted developments, per the Mayor's office. Before shovels hit the ground, the development team will still need to lock in tax credits, bond allocations and county funds to reach financial close and launch construction.
