CRA Still Seeks Developers for Rental Housing
The Los Angeles Community Redevelopment Agency is still seeking developers for low- and moderate-income rental units in South-Central Los Angeles.
Under the program, the agency assists selected developers by providing a portion of the financing needed. Only proposals for new construction are being considered.
The program area is bounded roughly by Vermont Avenue and Figueroa Street on the west, the Santa Monica Freeway on the north, Alameda Street and Central Avenue on the east and 81st Street on the south, according to James M. Wood, agency chairman. To date, he added, the agency has received four eligible proposals for 80 rental units, with funding assistance at $2.3 million.
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