L. A. City Council Approves Bond Issue for Units

Work is expected to begin in February on a 101-unit apartment complex at 6th Street and Masselin Avenue.

The Los Angeles City Council voted 12 to 1 in favor of a tax-exempt mortgage revenue bond issue to build the apartments with at least 20% of the units designated as “affordable housing.” The project will be developed by CoastFed Properties and is owned by one of its subsidiaries, Mayer Wilshire Ltd.