Santa Monica, California, is preparing to construct an apartment building for the homeless that would cost roughly$ 1 million per unit.
The apartment building, which will be built in Santa Monica and will be home to “122 apartments” and two levels of underground parking, will cost more than$ 123 million, according to the website for the City of Santa Monica.
A second design concept on the website found that the project could cost even more, totaling more than$ 200 million for 196 apartments.
“Moving forth in bringing affordable and permanent friendly accommodation to city-owned land is a crucial step in our plan to fulfill our Cover Element condition, ” Santa Monica Mayor Phil Brock said in a statement. “ I look forward to the next steps and eventually seeing people move into these novel houses and thrive. ”
The city of Santa Monica has approved a new apartment complex for the homeless that will cost a staggering$ 1 million per unit. The$ 123 million project may contain only 122 products. It was approved time after an inspection found California spent$ 24 billion to address homelessness…
— Bill Melugin ( @BillMelugin_ ) April 23, 2024
Building on the apartment building may not start until 2028, with the job estimated to be completed for people to move in by 2030, according to the town ’s site.
Cherry on top: According to the city, construction wo n’t begin until 2028 and move ins are n’t expected until 2030. https ://t. co/1sOO6sYWHg
— Bill Melugin ( @BillMelugin_ ) April 23, 2024
Santa Monica’s cover initiative comes days after a report showed that California Gov. Gavin Newsom’s ( D) administration lost$ 24 billion in taxpayer funds since 2018 while the condition attempted to address the homelessness issue.
The report from the auditor of the state of California found several “gaps ” in trying to account for how the money used to combat homelessness in the state was distributed between 2018 and 2023.
Grant Parks, the head auditor, said that the California Interagency Council on Homelessness ( Cal ICH) had not been “consistently ” tracking and evaluating the “State’s efforts to prevent and end homelessness. ”
