Three Residential Hotels Get Rehabilitation Funds
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Three Southland hotels were among seven for which rehabilitation funds have been awarded under the state special user housing rehabilitation program. The total amount awarded was $3,924,000, supplemented in one case by $161,000 from the California Housing Finance Agency.
Included were $149,000 and the CHFA sum for a total of $310,000 to SRO Housing Corp. for the Golden West Hotel, 417 East 5th St., Los Angeles; $315,000 to the Community Corp. of Santa Monica for the Shore Hotel, 127 Broadway, Santa Monica, and $1 million to the Feedback Foundation for the Santa Ana Hotel, 604 Main St., Santa Ana.
The program gives loans to nonprofit, for-profit or local government sponsors for the renovation of residential hotels, considered the most affordable source of housing for low- and very-low-income households.
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