A seven-story affordable housing complex at 9033 Ramsgate Avenue in Westchester has completed its wood framing, marking a visible construction milestone for one of the larger income-restricted projects moving through Los Angeles under Mayor Karen Bass's fast-track housing policy. The building will include 117 studio, one-bedroom, and two-bedroom apartments reserved for low- and moderate-income renters, along with a 36-car garage.
As reported by Urbanize LA, the project broke ground in 2025 and is expected to be completed in 2027. Developer Six Peak Capital is building the complex using density bonus incentives, which allow a larger structure than local zoning would otherwise permit, combined with streamlining under Mayor Bass's Executive Directive 1, or ED1. The City of Los Angeles approved plans for the site in 2024, and the project is designed by The Albert Group Architects.
The financing behind the project offers a window into how developers are structuring deals to make ED1 projects pencil out. Priority Capital Advisory arranged a $31.3 million senior construction loan in October 2025 specifically built to accommodate ED1 features like property tax abatements and reduced parking ratios, according to the Los Angeles Times. That reporting also detailed the building's unit mix — 15 studios, 31 one-bedroom units, and 70 two-bedroom units, all delivered fully furnished — with construction managed by Six Peak's affiliated builder, LV Construction LLC.
Why Developers Are Abandoning Market-Rate Projects
Six Peak Capital is not treating 9033 Ramsgate as an isolated bet. The firm is also developing a predominantly market-rate mixed-use project on Sunset Boulevard in Silver Lake and is separately working on another ED1 affordable housing project along Francis Avenue in Westlake, per Urbanize LA's reporting. That dual track reflects a broader shift described by Six Peak Capital partner Chris Aiello, who said in late 2025 that market-rate apartment construction had become “essentially canceled” in Los Angeles because of elevated land and capital costs, as noted by CoStar.
That financial squeeze has pushed developers toward 100% affordable projects at scale. Greater Los Angeles added 9,406 income-restricted apartments between 2020 and 2024, with affordable units making up 20.5% of all new apartment construction in the metro area during that period, according to a RentCafe analysis cited by The Real Deal. The shift is also being driven by California's Regional Housing Needs Assessment mandate, which requires the City of Los Angeles to plan for 456,643 new residential units between 2021 and 2029, including 184,721 designated as affordable for lower-income households, The Real Deal reported.
A Cluster of Affordable Projects Along Ramsgate
The Ramsgate corridor itself has become a hub for this kind of streamlined development. Down the street at 8911 Ramsgate Avenue, HVN Development broke ground earlier this year on Haven on Ramsgate, a four-story, 77-unit income-restricted complex that also used ED1 streamlining, according to WhatNow. Westchester is seeing a wider wave of similar additions, including a 77-unit project at 9038 S. Reading Ave., the 102-unit Redtail Crossing at 8333 Airport Blvd., and a proposed 572-unit hotel adaptive reuse at 9750 Airport Blvd., as Hoodline previously reported in its coverage of the neighborhood's parking-free housing boom.
The Gap Between Approvals and Actual Construction
ED1 has generated enormous volume on paper since Mayor Bass introduced it, expediting review timelines for qualifying 100% affordable projects from months to weeks. The citywide ED1 pipeline reached nearly 47,000 affordable housing units by July, up from roughly 42,000 units reported earlier in the year, Hoodline reported. In December 2025, the Los Angeles City Council permanently codified ED1 into municipal law as the Affordable Housing Streamlining Ordinance, cementing a 60-day ministerial approval process that removes public hearings and City Council votes for qualifying projects.
But approvals have not translated into construction at the same pace. Citywide tracking data revealed that out of roughly 32,800 affordable housing units that received plan approvals under ED1 through late 2025, fewer than 5,000 had actually obtained building permits and started construction, per the same Hoodline reporting. Developers frequently secure quick zoning approvals only to encounter high financing costs afterward, which stalls projects before they ever break ground.
That gap is what makes 9033 Ramsgate's progress notable. With its construction loan secured and its wood framing now complete, the Westchester project is among the relatively small share of large ED1 developments that have moved from policy concept to physical construction, rather than sitting stalled at the entitlement stage.
