An 80-unit affordable housing development opened Thursday in Koreatown, adding new housing in one of Los Angeles’ most densely populated neighborhoods.
City leaders and community members gathered to celebrate the opening of Atto on Hobart, a seven-story affordable housing development in Koreatown that will provide 73 one-bedroom apartments and seven studios for households earning up to 80% and 120% of the area median income, depending on the unit.
Developer Leo Lee, who grew up in Koreatown, has spent years trying to redevelop the area. While he praised the city’s faster approval process, he said getting projects financed remains a major obstacle.
The opening comes as Koreatown continues to face mounting housing pressures. The area is one of the densest in Los Angeles, with more than 39,000 residents per square mile. About one in five residents lives below the federal poverty level, according to the U.S. Census Bureau’s American Community Survey.
Lee said the building’s name reflects what he hopes the project represents.
“The name of the project is called Atto. The reason for the name is, my wife told me, ‘Atto is a Korean word. It means gift, it means thank you,'” he told reporters.
Income eligibility will be verified by the Los Angeles Housing Department.
The project at 611 S. Hobart Blvd. is the first affordable housing development in Koreatown completed under Mayor Karen Bass’ Executive Directive 1, the 2022 order that streamlines city approvals for 100% affordable housing developments.
The city’s goal is to remove bureaucratic hurdles that have historically slowed affordable housing construction, Bass said.
“Everybody has told me how difficult it is to build anything in the city, but especially housing, and that the number one reason it was difficult, because of all of the unnecessary red tape,” she said.
City officials say the order has accelerated more than 47,000 affordable housing units through the development pipeline citywide, though many remain in various stages of planning and construction.
On Monday, city officials and nonprofit partners opened a converted Craftsman home with 19 affordable housing units for veterans in Harvard Heights and south of Koreatown.
Steve Kang, president of the Los Angeles Board of Public Works, said projects like Atto help address the challenges facing a neighborhood where many families struggle with high housing costs.
“So for our community, building more affordable housing isn’t just about adding units or density,” Kang said. “It’s about ensuring that our families, our seniors and working Angelenos get to stay right here in the heart of Koreatown.”
