Mainstreet rebuilds South Los Angeles

In the bustling streets of South Los Angeles, Foundational Builders is actively shaping the future through their ongoing collaboration with Eleos Ventures, an emerging real estate developer. Together, they are bringing to life the Mainstreet project, a visionary four-story, 53-unit affordable housing complex destined to transform a parking lot into a vibrant community hub. As the construction progresses, Foundational Builders' expertise in multi-family and affordable housing developments is leaving an indelible mark on the South Los Angeles landscape.‍

‍

Project Overview:‍

Location: South Los Angeles

General Contractor: Foundational Builders

Type: Affordable Housing

Units: 53 one-bedroom apartments (48 for low-income households, 4 for extremely low-income households, 1 manager’s unit)

Size: Approximately 23,634 square feet‍

‍

‍

Project Inception:‍

The genesis of Mainstreet can be traced to an ambitious vision by Eleos Ventures, a company with leadership stemming from Oak Road Capital. Acquiring a 13,000-square-foot, two-parcel site at the southeastern corner of South Main Street and East 47th Place earlier this year, Eleos co-founder David Aghaei orchestrated the purchase for about $1.2 million, setting the stage for a transformative affordable housing project.‍

Transit-Oriented Communities Program:‍

Mainstreet stands as a testament to Los Angeles' commitment to affordable housing, embracing the Transit-Oriented Communities (TOC) program. The proposed development, soaring to approximately 52 feet in height, incorporates TOC incentives, including a height increase and reduced parking minimum. Foundational Builders, leveraging their expertise, are actively contributing to the realization of these incentives.‍

Architectural Highlights:‍

The Mainstreet development goes beyond mere housing, offering meticulously planned spaces to foster community living. The project includes a thoughtful allocation of open spaces, featuring 2,650 square feet of private open space, 1,624 square feet of landscaped open space, and 2,435 square feet of common open space, complete with a roof deck. This design ethos reflects a commitment to creating an environment that enhances residents' quality of life.‍

Regulatory Approvals and Progress:‍

The Los Angeles planning department's recent approval marks a significant milestone in Mainstreet's journey. Plans for the four-story, 53-unit affordable housing project have received the green light, with the development taking shape at the intersection of South Main Street and East 47th Place. Foundational Builders, at the forefront of construction, is actively navigating the complexities of the project's regulatory landscape, ensuring that it aligns seamlessly with the city’s TOC program.‍

Community Impact:‍

Beyond the bricks and mortar, Mainstreet embodies Foundational Builders' dedication to community impact. The development repurposes a 35-space parking lot, contributing to the city's evolving urban landscape. With 48 units designated for low-income households, 4 for extremely low-income households, and 1 manager’s unit, Mainstreet serves as a beacon of inclusivity and affordability.‍

Ongoing Construction:‍

As Mainstreet continues to rise, Foundational Builders remains deeply involved in the construction process. Their expertise in multi-family and affordable housing developments is instrumental in shaping the project's success. From groundbreaking to completion, Foundational Builders is committed to ensuring that Mainstreet not only meets but exceeds the highest standards of excellence.

Stay tuned for more updates on Mainstreet's progress.

Mainstreet Progress