Hundreds of new apartments have been approved for Lincoln Blvd. between Olympic and Colorado and work is now underway on two new buildings.
The Arroyo, a 64 unit affordable housing project by Community Corp of Santa Monica broke ground last year and is now taking shape on the block. Across the street, officials have broken ground on The Lincoln Collection, a pair of apartment buildings that will total about 280 units.
The groundbreaking for the Lincoln Collection mixed-use project took place on February 22, with the heads of Fifield construction company thanking workers and looking forward to the project’s eventual completed unveiling to the Santa Monica public.
The first building is five-story, 89 unit, building that will feature studio, one and two-bedroom floor plans and 25,000 square feet of street-level retail amenities.
Kevin Farrell, President and Chief Operating Officer of Fifield, started the groundbreaking proceedings and said the $150 million project would make a statement leading into downtown Santa Monica.
“This complex will be the new front door of Santa Monica,” Farrell said.
Randy Fifield, Chairwoman of Fifield, echoed Farrell’s statements of the importance of the space to the community, highlighting Fifield’s commitment to improving the community.
“We’re proud to contribute to Santa Monica in a meaningful way,” Fifield said. “We’re proud of our diverse team, building green, and doing things locally.”
The block will eventually be home to more than 600 housing units. The second Lincoln Collection building will include 191 units and a third development is in the works sandwiched between the two projects.
Other developments have also been approved for the street including the already under construction affordable housing project.
The Arroyo will reserve all but one of its units for households that earn 30 – 60 percent of the average median income or less. One manager’s apartment will be reserved for a household earning 80 percent or less. There will be on-site resident services such as homework assistance for youth, wellness classes, and computer training.
The Lincoln Collection also has an affordable housing component with 20% of the units below market rate.
Fifield construction Founder and CEO Steve Fifield said he looks forward to the grand opening of his project in about two years.
“Santa Monica will be pleasantly surprised with what we’ve built here,” he said.