The population of East Hollywood, California is rising, along with a stream of development that has delivered new apartments, restaurants, and shops to the area. These trends and talk of gentrification are placing upward pressure on multifamily rental rates, creating increased demand for affordable housing in the market, according to Kasey Burke, President of Meta Housing.

“As developers and investors focus their attention on East Hollywood, many people are being priced out of the market for rental housing,” says Burke. “Climbing rents are making the need for affordable housing increasingly critical in this area of Los Angeles—a market known for its high multifamily rental rates and lack of attainable living options for lower- and middle-income individuals and families.”

East Hollywood is Los Angeles’ third most densely populated neighborhood and becoming more so because of transit-oriented projects being built close to major transit hubs in the area, notes Burke.

“This market is ripe for projects like 5400 Hollywood Family Apartments, a 40-unit mixed-use affordable multifamily community in the heart of East Hollywood, which Meta Housing developed in 2017 in partnership with Western Community Housing, Inc. and L.A. Housing & Community Investment Department,” says Burke. “This type of project is helping to alleviate the growing homelessness problem in L.A. neighborhoods like East Hollywood where housing has become out of reach for so many.”

5400 Hollywood Family Apartments incorporates a contemporary and modern design that features one-, two-, and three-bedroom floor plans. The community was constructed to LEED Gold standards and incorporates the most modern features and amenities found in communities throughout Los Angeles.

“With a landscaped roof deck, meeting room, computer room, laundry facility, and children’s play area, this five-story community is indistinguishable from market-rate apartment communities in the area,” comments Burke. “We are grateful to our development partners, as well as CA HCD Prop IC IIG, CA HCD Prop IC TOD Loan, Federal Home Loan Bank San Francisco AHP and California Tax Credit Allocation Committee, for helping us to deliver high-quality apartment homes to those in need in this market.”