L.A. stories of inspiration and success

L.A. stories of inspiration and success

Groundbreaking Ceremony on February 13, 2024, for the First Street North mixed-use development project, providing 248 affordable housing units and 40,000 square feet of commercial space
On February 13, 2024, the Office of Mayor Karen Bass, Economic Workforce Development Department (EWDD), Little Tokyo Service Center, Go For Broke National Education Center, and the Los Angeles Housing Department (LAHD) all participated in the Groundbreaking Ceremony for the First Street North Project. This mixed-use development, located at 232 N. Judge John Aiso Street in Little Tokyo, will consist of two towers with 248 units of affordable housing units as well as a combined 40,000 square feet of commercial space on the ground floor of both buildings.

First Street North was developed by the social service and community development organization Little Tokyo Service Center and the nonprofit organization Go For Broke National Education Center. For this joint development entity, the organizations used a variety of funding sources, including New Market Tax Credits and Low-Income Tax Credits, as well as $1.5 Million in Gap Financing. These allocations to finance the project are managed by EWDD and granted by the federal government agency Housing and Urban Development (HUD) through Community Development Block Grants (CDBG).

EWDD will also manage the commercial component of the project. Ground floor commercial units are being reserved for lease to legacy businesses under EWDD’s new LA Legacy Business Program, a program that ensures long-standing locally-owned businesses in changing neighborhoods, such as Little Tokyo, can afford to continue to stay and operate in the communities they call home. LAHD will coordinate the residential portion of the project.
architectural rendering of the First Street North Project
rendering of the First Street North Project mixed-use development project featuring the Go For Broke Plaza, provided courtesy of Little Tokyo Service Center

At the groundbreaking ceremony, EWDD’s General Manager, Carolyn Hull, emphasized this new development's importance to the Little Tokyo community. “We are excited to continue to work towards many more developments like this one that will keep residents housed, businesses running, and people employed.” Hull also acknowledged Little Tokyo Service Center, EWDD’s Economic Development Division, LAHD, and City Attorneys for their hard work and dedication in making this project possible. The anticipated construction completion is February 2026.

This story is part of the EWDD UPDATES from February 2024. Read this issue and more.