Echo Park 81-unit Alvarado Kent gets CofO on a $10.7M permit
LADBS issued certificate of occupancy 252828 on Nov. 2 for Alvarado Kent, 81 units in Echo Park, on a $10.74M permit against a reported $43.2M cost.
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- Also reported by Urbanize LA
LADBS issued certificate of occupancy 252828 on Nov. 2 for Alvarado Kent, a six-story, 81-unit building at 715 N. Alvarado St. in Echo Park. The permit behind it declares a valuation of $10.74 million.
Why it matters
Eighty of the 81 units are low-income studios and one is reserved for an on-site manager, according to the city record. SRO Housing Corp. is the developer, per Urbanize LA’s 2023 report on the project, which covers the building under its 707 N. Alvarado St. address. The city dataset lists Westport Construction as contractor. For anyone pricing affordable housing in Los Angeles, the finished building is a rare data point: the permit value and the reported project cost sit far apart.
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The numbers
Permit 22010-10000-04676 declares $10.74 million, about $133,000 per unit across 81 units. Urbanize reported that a February 2022 tax credit financing application estimated “approximately $43.2 million cost for the project,” roughly $533,000 per unit. That is about four times the permit figure.
The two numbers measure different things. A permit valuation is the construction value declared to the city. A financing application’s project cost is a broader estimate. We have not seen a final cost for the building, and neither source breaks the gap into line items. Land, financing and soft costs are common reasons a project budget runs above a declared permit value, but the records here do not say which apply.
What’s next
With the certificate of occupancy issued, lease-up and any recorded regulatory agreements are the next filings to watch. We will compare the final cost figure if one is published. More city permit coverage is on our Los Angeles page.
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Quick answers
- What is the latest on SRO Housing Corp in Los Angeles?
- LADBS issued certificate of occupancy 252828 on Nov. 2 for Alvarado Kent, 81 units in Echo Park, on a $10.74M permit against a reported $43.2M cost.
- What are the key numbers for SRO Housing Corp?
- permit valuation: $10.7M; reported cost: $43.2M; low-income units: 80.
- Where does the information on SRO Housing Corp come from?
- The story cites Los Angeles Department of Building and Safety and Urbanize LA.
On the record
Permit 22010-10000-04676 for a six-story, 81-unit building at 715 N. Alvarado St. declares a $10.74 million valuation, and certificate of occupancy 252828 was issued Nov. 2, 2026.
Permit · data.lacity.org
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