Next week, the Los Angeles County Board of Supervisors will consider a proposed agreement which would sell 9.5 acres of land in unincorporated Willowbrook to a private developer who would construct 94 single family residences.

The vacant property, located at 13024 Salinas Avenue, is currently controlled by the L.A. County Housing Authority.  The disposition and development agreement that is up for approval next Tuesday would allow an entity known as Olson Land Opportunities II, LLC to purchase the undeveloped site for approximately $3 million.

As a condition of the sale, Olson would be required to set aside 30 of the homes for sale to moderate-income and lower-income buyers.  Specifically, 19 would be reserved for moderate-income households and 11 would be reserved for lower-income households for a term of 45 years.  The remaining houses can be sold without affordability restrictions.

The developer is prepared to begin construction immediately upon acquiring the property, and anticipates completion in early 2018.

The property was previously controlled by the Compton Unified School District.

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Construction Finally Underway at 5750 Hollywood

Wood Partners has acquired a mixed-use development site near the Hollywood Freeway.

Atlanta-based developer Wood Partners has broken ground for a residential-retail development near the Red Line's Hollywood/Western Station.

The project, located at 5750 Hollywood Boulevard, will consist of a seven-story structure featuring 161 apartments, 5,700 square feet of ground-floor retail space, and basement parking for 271 vehicles.  Plans call for a mix of studio, one- and two-bedroom units, including 14 apartments reserved as low-income housing.