San Diego Freeway running through the west side of Los Angeles. Photo by Shutterstock.
Late last month, the U.S. Department of Housing and Urban Development awarded the Housing Authority of the City of Los Angeles a $35 million Choice Neighborhood Initiative grant for the revitalization of the Watts community in Los Angeles. The grant will ensure progress continues on the Jordan Downs project as well as the wider Watts community.
The CNI grant enables HACLA to leverage public and private funds to support the locally driven strategies behind the Watts neighborhood transformation. It also includes $5 million that will be directed specifically for social services for Jordan Downs residents.
The grant comes quickly on the heels of an announcement in March that The Michaels Organization, HACLA's private sector partner, had achieved a financial closing on the third phase of new housing in the Watts neighborhood. That phase will provide 92 new apartments, which will be affordable to households earning between 30% and 80% of the area's median income.
Since Michaels and its partner BRIDGE Housing were selected by HACLA in 2015 to be the master developers of the Jordan Downs project, several benchmarks have already been reached. They include two residential developments, an extension of Century Boulevard, and the opening of new neighborhood retail with a full service grocery store.
Ultimately, Jordan Downs will become a mixed-income urban village with close to 1,400 new affordable homes, as well as a community center and over nine acres of green space.
Better Tomorrows, a non-profit organization serving as Michaels' lead services partner, will deliver programming to the residents of Jordan Downs focusing on healthy lifestyles, strong communities, educational success, and financial stability.
"Watts residents have for years been dreaming of, and advocating for, this community transformation and now that transformation is becoming a reality," said Kecia Boulware, Michaels Vice President of Development. "Michaels and our partners are grateful to HUD for supporting our vision for high-quality affordable housing with this CNI award and for including $5 million for much-needed supportive services for the families of Jordan Downs."
|Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Richard Binder
Richard Binder, based in New York, is part of the social media team at ALM. He is also a 2014 recipient of the ASPBE Award for Excellence in the Humorous/Fun Department.
