Long Beach investment company votes for more affordable housing

LONG BEACH, Calif. (KABC) -- The Long Beach Community Investment Company (LBCIC) has voted to start negotiations with a developer to build at the southeast corner of Pacific Coast Highway and Magnolia Avenue.

The LBCIC is the agency that decides which affordable housing projects get funding.

The development will be for people who are experiencing homelessness or are at risk of becoming homeless.

The project will include a three-story, 55-unit complex, with all apartments being one-bedrooms.

The ground floor will have 2,400 square feet of recreational and community services.