4301 Vermont: SoLa Impact Crenshaw Corridor Affordable Housing Project

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Address: 4301-4327 Vermont Ave., Los Angeles, California

Estimated construction completion: Q2 2026

In the news: Project featured in Novogradac Journal of Tax Credits (May 2025)

The 4301 Vermont: SoLa Impact Crenshaw Corridor Affordable Housing Project in Los Angeles, California will address the current housing and homelessness crisis in the city of Los Angeles through the development of 188 new apartments, which will be available to individuals and families experiencing homelessness who hold Section 8 vouchers.

The project benefits from the city’s “ED1,” or the “Emergency Declaration on Homelessness,” which provides expedited permitting to 100% affordable projects. The project is sponsored by SoLa Impact, a development firm dedicated to making a positive social impact by focusing on affordable housing, economic development, and educational access low-income areas of South Central Los Angeles.

Tenants of the project will be provided supportive services by SoLa Impact’s nonprofit affiliate, the SoLa Foundation, and other nonprofit partners. These services include workforce training, job placement services, financial education, and educational programs. The development is in Crenshaw Corridor a neighborhood in South Central Los Angeles

Project update: The project is currently under construction. The projected impacts upon completion, as of 12/31/2024, are as follows:

Projected housing:

The project will create 188 units of affordable and workforce housing. The project will prioritize renting to residents that hold Section 8 vouchers, ensuring tenants pay no more than 30% of their income on rent.

In addition to prioritizing voucher holders, 80% of units will be otherwise restricted to those earning 80% of the area median income (AMI) or less under the U.S. Department of Housing and Urban Development (“HUD”) definition of AMI. The remaining units will be restricted to those earning 110% or less under the California Department of Housing and Community Development’s definition of AMI (which is about the equivalent of HUD’s 80% AMI). These affordability covenants will be in place for a term of 55 years. Each of the project’s units will be ADA accessible.

Projected community engagement and benefits:

• The project will be built using prefabricated modular units built by Model/Z, a separate operating company founded by the owners of SoLa Impact. Model/Z operates a modular construction factory that produces highly standardized and proprietary modular units in the nearby Watts neighborhood. These units are designed to be universal and interchangeable across all SoLa Impact’s projects, eliminating the necessity to frequently retool production lines and significantly reducing manufacturing and construction expenses. Model/Z believes its streamlined production process will over time be able to produce multi-family housing to become more affordable and therefore increasing affordability.

Projected good jobs:

• The property will directly employ 2 professionals.
• The project will create 245 construction jobs for local workers.
• The permanent direct jobs associated with the management of the project will earn above living wage for the project’s county and will include healthcare, retirement match, PTO, sick leave, and professional development training benefits.
• The project supports the growth of Model/Z, the builder of the modular units for the project, which employs 312 factory workers recruited primarily from the Watts neighborhood in South Central Los Angeles where the factory is located. All employees make above the living wage for Los Angeles.

Projected environmental sustainability:

• The project will have a strong focus on environmental sustainability through its innovative modular approach, as well as stringent green building standards.
• The modular building approach is expected to result in 35% less waste and carbon emissions generated during construction, with building completion at two thirds the typical timeline for a similar-sized project.
• The project will be full electric and solar-ready.
• Because the project is located within a designated transit corridor in Los Angeles, within walking distance of bus and metro options, it is not required to provide long-term parking. SoLa also promotes bike transit by providing ample bike storage.

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