The 77-year-old building in the Pico Neighborhood is being rehabilitated by Community Corporation of Santa Monica (CCSM) with $37.5 million in loans from the City's Housing Trust Fund to purchase, renovate and temporarily relocate the tenants.

That likely makes it the most expensive City-funded rehab project in the city's history.

Read More: https://www.surfsantamonica.com/ssm_site/the_lookout/news/News-2026/May-2026/05_26_2026_Housing_Provider_Over_Budget_Rehab_Project%20.html