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Committee approves exclusive negotiations with Mercy Housing for Grove Street affordable housing site
Summary
The committee approved forwarding an exclusive negotiating agreement with Mercy Housing California and The Kelsey to develop about 102 affordable rental units on surplus city property at Grove Street and Venice Avenue, with a proposed annual ground-lease payment of $15,000 and an ENA term of 45 months.
The committee voted to forward an exclusive negotiating agreement (ENA) with Mercy Housing California and a development team led by The Kelsey to the full Board. The ENA covers surplus city parcels at 155–165 Grove Street and 240 Venice Avenue and lays out milestones to negotiate a future ground lease.
Department of Real Estate staff said the properties total about 9,000 square…
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