The report the Council will take up Tuesday outlines how the City's investment in helping Community Corporation of Santa Monica (CCSM) embark on the project ballooned from a nearly $15.2 million acquisition and pre-development loan in 2020 into a $35.65 million loan to rehabilitate the property at 2033-2101 Virginia Avenue in the Pico Neighborhood.

Read More: https://www.surfsantamonica.com/ssm_site/the_lookout/news/News-2026/August-2026/08_06_2026_The_35_Million_Cost_of_Rehabbing_a_Rent_Control_Building.html