The law firm is Luce, Forward, Hamilton & Scripps. It was chosen by Goldman Sachs & Co. to represent the firm in underwriting the variable-rate bonds, which will be issued by the City of Los Angeles.
Proceeds will then be loaned to privately held Tri-City Housing for three planned projects. The first is the renovation of a complex on South Mariposa Avenue, Las Mariposas Family Apartments, which is occupied by several low- and moderate-income families.
The second project is in the Eagle Rock area. There, Tri-City Housing plans to clear the aging Rockview Apartments and replace it with 42 units of senior housing.
The third development will rise on a vacant parcel on Avalon Boulevard. Known as Avalon Place, it will include 76 housing units for seniors.
"The continued tight housing market has made it especially difficult for low-income families to find affordable accommodations in the city," says Mark Levinson, a corporate partner at Luce Forward serving as lead outside counsel to Goldman Sachs. "This bond issue reflects the city's commitment to ensure vitally important funding to meet the challenge of providing affordable housing stock."
The Luce Forward team representing Goldman Sachs includes Levinson, corporate associate Andrew Apfelberg and project coordinator Gina Buettner. The law firm, which has four offices in California and a fifth in New York, employs about 215 attorneys.
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