L.A. City Council Approves 725-Unit Apartment Project in Chinatown Amid Gentrification Fears
The Los Angeles City Council signed off Friday on a 725-unit apartment project in Chinatown, amid objections from activists who said it has no affordable housing and will result in the displacement of low-income residents.
On a 14 to 0 vote, council members backed the proposal from Atlas Capital Group, a New York-based real estate company, to construct five seven-story apartment buildings across from a Metro Gold Line light rail station.
The project, known as College Station, has been the subject of an opposition campaign by Chinatown Community for Equitable Development, which contends that the arrival of hundreds of market-rate homes will fuel gentrification, pushing up rents in nearby apartments.
The developer, in turn, contends that fears of displacement are unwarranted, since the property is currently a vacant lot. “The site has had no housing on it, and, therefore, there is no tenant displacement,” said Jerry Neuman, an attorney for Atlas.
Read the full story at LATimes.com.