Ground Broken on 16-Home Project
A Los Angeles residential real estate developer broke ground Wednesday on a $3.5-million, 16-home project in Panorama City.
The development on Wentworth Street will be an attempt to stabilize a declining area by razing vacant buildings and replacing them with new homes, said Carlos Mesa, owner of Santa Fe Group, which will build the project.
Preliminary design plans call for three- and four-bedroom homes on a tree-lined cul-de-sac, Mesa said. The homes are expected to sell in the $201,000 to $250,000 price range.
Mesa is a graduate of the Marshall School of Business Summer Program in Real Estate at USC. A joint venture with the Community Redevelopment Agency of Los Angeles, the program provides an intensive curriculum study for minority real estate entrepreneurs.
