October 28, 2020 #1 Local News, Forum, Information and Event Source for Venice Beach, California.

Venice Housing Development Set to Recieve $41M in Bonds

City Council approves funding for Thatcher Yard

A developer is set to receive $41,000,000 in bonds for a Venice housing development.

On September 29 Los Angeles City Council approved $41,000,000 in multifamily housing revenue bonds to finance the new construction of a 98-unit multifamily housing project known as Thatcher Yard located at 3233 S. Thatcher Avenue.

The over 100,000 square-foot project, nestled in the Oxford Triangle abutting Lincoln Boulevard and Admiralty Way, is a private-public partnership developed by Thomas Safran & Associates with funding from Measure HHH. 68 units will be reserved for seniors in one two-to three-story building and 30 units will accommodate families in several one- and two-story buildings. 82 parking spaces will be provided in a subterranean parking level.

The Oxford Triangle Association, a group of Oxford Triangle residents and neighbors who oppose the development of any dense multi-family housing on the Thatcher Maintenance Yard has been successful in retaining more of a single-family look for the development after meeting with Thomas Safran & Associates (TSA) many times in the planning process.

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