The Torrance Planning Commission has signed off on the construction of a 44-unit affordable housing apartment building on Cabrillo Avenue in Old Torrance.
The project received unanimous approval from the panel at its Wednesday meeting and will go before the City Council in two or three weeks, said Brian Sunshine, assistant to the city manager.
"Although the project was approved, the lease agrement for use of the property still has to go to the City Council," he said.
A 37,000-square-foot property that formerly housed a car dealership and, more recently, termite extermination business, was purchased by the now defunct city Redevelopment Agency in 2009 along with two other adjoining properties for about $4 million.
The city's contribution toward the project is the lease of the land.
The three-story building will boast a mix of one-, two- and three-bedroom apartments.
The developer is seeking state tax credits to help finance construction, a competitive process that occurs twice a year, city officials said.
Securing those credits will dictate the construction timetable.
- Nick Green