Don't Believe False Claims About The New Wyvernwood!
An overwhelming number of residents support plans for The New Wyvernwood. However, a small group of misguided opponents continues to spread false claims and misinformation about the project. Make sure you know the facts:
Tenants who currently live at Wyvernwood will enjoy the same rent control protections in the new development that they enjoy today. Current tenants will pay no more at The New Wyvernwood than they would have paid for their current unit. This promise applies to current tenants, regardless of age or income level, for as long as they continue to live at Wyvernwood.
In addition to the rent guarantee, 15 percent of all units (up to 660 apartments) will also be set aside as affordable housing for those with low and very low incomes for a period of 30 years. If you can afford to live at Wyvernwood today, you will be able to afford The New Wyvernwood as well.
The commitments made to Wyvernwood residents by Fifteen Group will be backed by a development agreement with the City. This is a legally binding contract that is fully enforceable. Some opponents have referred to the Lincoln Place project as an example where promises weren’t kept, but Lincoln Place did not have a development agreement in place.
Wyvernwood tenants who do not wish to remain in the new development will receive their relocation payment as soon as they decide to leave their unit. All departing tenants will receive the maximum relocation payment allowed for by the City of Los Angeles, currently $18,650 per unit.
Construction at Wyvernwood will be phased in such a way that all tenants will be able to remain on the site, either in their own apartments or comparable units. No tenants will be displaced from Wyvernwood due to construction. Construction areas will be fenced off so that construction impacts to the remaining area are minimized, and mitigation measures will help avoid problems from dust, traffic, and noise.