Paramount Homes Tract Aimed at Middle-Income Families
The City Council has approved construction plans for 200 new homes that city officials hope will draw more middle-income families into this mostly lower-income city.
Officials of the development company, Kaufman and Broad Inc., said the $90,000-plus homes will appeal to families with a minimum income of at least $40,000. Census figures estimate the current median family income in Paramount at less than $19,000.
The housing tract, which city officials said will be one of the largest new single-family developments here in years, will be built on a 14.3-acre Compton Boulevard site next to a new shopping center, said Clyde Lane, president of Kaufman and Broad. The ground breaking is scheduled for December.
Mayor Charles Weldon said the arrival of new homeowners “will have a tremendous impact on the future health of our city.”
“We anticipate tax revenues to increase, property values to rise and our cultural and social life as a community to be enhanced by the influx of new middle-income families,” Weldon said.
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