The city of Torrance has launched a new effort to block the conversion of a 122-room hotel into permanent housing for the homeless.
City leaders released an appraisal Thursday that determined the fair market value of the Extended Stay Hotel at 3525 Torrance Blvd. is between $9.8 million and $10.2 million—far below the $30 million offer submitted by a nonprofit that receives taxpayer dollars.
“The nearly $20 million discrepancy has prompted the city to call for greater scrutiny in the implementation of publicly funded housing programs like Homekey+, particularly when taxpayer dollars are involved,” the city said in a news release.
In May, the Torrance City Council unanimously voted to oppose the project, citing “serious implications” for public safety. Council members also argue that it was planned without adequate public input and that the site would be too close to an existing homeless village.
Days after the vote, Los Angeles County Supervisor Janice Hahn, whose district includes Torrance, released a statement acknowledging the opposition while arguing the project was needed.
“We have to look at the facts. Without permanent housing, shelters get full, streets stay crowded with tents, and the crisis drags on,” Hahn said. “With permanent housing, people stabilize, communities heal, and we finally move forward.”
KTLA has reached out to Hahn’s office for a response to the appraisal.
City leaders insist they aren’t opposed to temporary and permanent housing solutions for the homeless – just this specific proposal.
“Our responsibility as a city is to listen to our residents and act in a way that reflects our community’s values,” said Torrance Mayor George K. Chen. “The results of this independent appraisal reinforce the concerns many in our city have already raised.”
The city said it plans to submit the appraisal to the state Department of Housing and Community Development and the U.S. Attorney’s Office.
The Extended Stay Hotel was built in 1997 and last renovated in 2012.