The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
July 14, 2020
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

ETC... ETC...
Printer-friendly Version   Email an Associate
Community Preservation Partners Completes Rehabilitation of 48-Unit Low-Income Housing Portfolio in Los Angeles


Community Preservation Partners (CPP) has completed an $11.9 mil rehabilitation of The Curtis Johnson Apartments, a six-building, 48-unit low-income residential portfolio in and around the Vermont Harbor neighborhood of Los Angeles. The portfolio consists of 17 studios, 18 one- and 13 two- bedroom units, built between 1915 and 1927.

Use of the funds included the $4.46 mil purchase from a private developer along with $4.3 mil in construction costs. Each property received significant upgrades to the common areas and individual units, including:

• Replaced roofing
• Energy-efficient light fixtures and appliances
• Kitchen cabinets, bathroom vanities and flooring throughout
• Replaced windows
• Upgraded landscaping and irrigation systems
• Fresh paint within units and all exteriors

“When CPP purchased the properties in 2018, none of these homes had air conditioning, and many were sorely wanting for upgrades,” said CPP President Anand Kannan. “We are proud to bring these apartments into the 21st century, enrich the lives of these residents and strengthen the Vermont Harbor neighborhood.”

Additionally, tax credit investments were made by CPP’s parent company, WNC & Associates, and the nonprofit Foundation for Affordable Housing serves as managing general partner. By recapitalizing the rehabilitation of the portfolio, CPP has extended the affordability of the homes, preventing them from being subject to market-rate rents as far out as 2073.

The following addresses are in the scattered site portfolio:

• 1213-1215½ W. 39th St.
• 831-833½ W. 41st St.
• 860 and 866-870½ W. 42nd Pl.
• 897 W. Vernon Ave.
• 903 W. Vernon Ave.
• 727-729½ W. 47th St.

Citibank provided funding for the construction with support from general contractor MFRG-ICON and Irwin Partners Architects.

Return to the Archive page





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2020 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media