Work is rolling out in phases at Village at the Park Drive and Westpark Court, in Camarillo. Hiji Investment Company is behind the planned community, that will be a mix of commercial and residential units next to a 55 acre sports park. Some communities have already been completed, while others have yet to break ground.
A new modular residential tower will soon be seen at 845 Olive Street in downtown, Los Angeles. The project proposal includes the redevelopment of an asphalt parking lot into a residential high-rise with 19 stories. Plans for the tower were approved in 2019. Hollywood-based real estate firm Relevant Group is the project developer. Gensler is responsible for the design concepts.
A new apartment complex has been planned for Camino Ruiz and Verdugo Way, in Camarillo. Camino Ruiz LLC is listed as the developer. Twenty very low-income affordable units will be included, with seven studios units, seven one bedroom units, and six two bedroom units. An additional twenty moderate-income affordable units will be provided with seven studios units, seven one bedroom units, and six two bedroom units.
Ground has broken at 4th Street and Main Street, in Santa Ana. The brand new project is being built in the city’s downtown by Toll Brothers Apartment Living and partner EJF Capital. It is “The first luxury multifamily community to be built here in decades,” according to Charles Elliott, president of Toll Brothers Apartment Living. “The Rafferty” is the Company’s Second Multifamily Community in the larger area of Orange County.
City of Los Angeles is seeking funds for a new project that proposes to convert hotels into permanent supportive housing. Three motels are up for grabs in Hollywood and the San Fernando Valley in Los Angeles. The project, named as Project Homekey, is a pandemic-initiated program that allows cities and counties to purchase underused hotels and repurpose them as interim or permanent housing. Recently, in September 2021, Governor Gavin Newsom announced $2.75 billion in funding for Project Homekey. The City of Los Angeles, which created 744 homes through the initial phase of the program, is now getting to work on its second round of acquisitions.
