On Thursday, Aug. 21, Thomas Safran & Associates (TSA) hosted the grand opening of Thatcher Yard, consisting of 98 affordable and supportive housing units for seniors and non-age-restricted residents located at 3311 S. Thatcher Avenue in Marina del Rey.
Both founder Thomas Safran and Jordan Pynes, the president of TSA, were on hand mingling with guests, including LA Councilmember Traci Park; Elizabeth Selby, director of development and finance for the Los Angeles Housing Department; Carlos Van Natter, director of Section 8 at the Housing Authority of the City of Los Angeles (HACLA) and Paul Buckland, senior vice president of fund investments for Wells Fargo.
In 1974, Safran left the U.S. Department of Housing and Urban Development (HUD) to start his own company, and for over 50 years, TSA has specialized in developing and managing high-quality properties. It has created 6,500 units of luxury, affordable and mixed-use rental housing in Southern California.
“Affordable housing on the Westside is rare,” said Pynes. “Demand is incredible, which is good and bad. For every unit, you have 1,000 applicants. It shows the incredible need in LA and in West LA.”
Thatcher Yard, TSA’s second project in Marina del Rey, broke ground in December 2022.
“It was hard work from start to finish,” Pynes said. “One of the most challenging we’ve done.”
The space was a Works Progress Administration (WPA) industrial lot. TSA first cleaned it up, excavating 25 feet down and uncovering bicycles and even a car, and remediated soil was brought in.
Two-thirds of Thatcher Yard is earmarked for seniors and one-third for low-income families; half of the units are dedicated to the former homeless. There are one-, two- and three-bedroom units across eight two-story buildings. The project features shared amenities including a community room, fitness center, outdoor patio, landscaped gardens, a play structure and a semi-subterranean garage with parking spaces for 82 vehicles and 58 bicycles.
The intergenerational community opened up about nine months ago and is currently fully leased. It offers wraparound services provided by The People Concern, which has case managers on site daily.
“We started the lottery several months before the building was done,” said Pynes. “As soon as we got the final certificates, we began the lease-out process. That’s the best part of the job. It’s hard to finance buildings, and we had challenges with construction, but it’s most rewarding when residents move in and sign the lease. A number of people were in tears.”
The neighbors are also content with the character of the community.
“It fits in with the neighborhood,” Pynes continued. “It is designed to fit in with the single-family homes in the area. The local neighborhood council endorsed us, and that’s rare.”
Fortunately, TSA is known as a company that listens to public comments, and they engaged in more than 50 meetings with the Oxford Triangle Association, among other neighbors.
One of Pynes’ main regrets is that TSA had to cut the number of units from 160 to 98. Yet other affordable housing projects have stalled and are still fighting to get built, so Pynes considers Thatcher Yard a win-win.
The two sides were able to compromise on parking, size, color and units.
“It took a long time to get through the city process, and we are glad and grateful and appreciative of the care taken with the community, the level of engagement and the responsiveness to concerns,” said Councilmember Park. “It enhances the neighborhood. TSA have been incredible partners, respecting the character and scale of the neighborhood. It couldn’t be any more beautifully or seamlessly blended into this very special community.”
Resident Rolando Santiago has lived at Thatcher Yard for almost a year now. Previously, he lived on Skid Row for two years. Now 60 years old, he is a recovering addict who has been clean and sober for 18 years and is a systems analyst, having worked for NASA and at a TV station in Atlanta. He compares the experience with going from a park bench to Park Avenue.
“This is a gift to the community and the people who live here,” Pynes said. “We change lives.”
Thatcher Yard is located at 3311 South Thatcher Avenue, Los Angeles, 424-610-9210; tsahousing.com/property/thatcheryard.