Conversion of Community’s Tallest Building Would Create 134 Affordable Units
by Ryan Vaillancourt
DOWNTOWN LOS ANGELES – A dried-up credit market and paltry demand for expensive condominiums has derailed dozens of Downtown residential projects in the past year, but at least one major housing development in the planning pipeline stands to benefit from the ongoing downturn.
Meta Housing Corporation, a West L.A.-based for-profit developer of affordable housing, is in the process of securing financing for a $51.3 million complex at 808 N. Spring St. in Chinatown. The company, which has been active in Downtown Los Angeles, plans to buy the property for $12 million from the Kor Group.
Filed in Planning & Land Use Committee
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