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Legacy Partners, a privately-owned national real estate firm, has announced the closing of a ground lease for a 2.81-acre property in Monrovia, adjacent to the city's new light rail station.  The San Francisco-based company is partnering with Griffin Capital and Silverpeak Real Estate Partners to develop MODA at Monrovia Station, a 261-unit multifamily residential development.

The project, which is scheduled for completion in early 2018, would include state-of-the-art appliances and finishes, as well as amenities such as a clubhouse, a fitness center, two landscaped courtyards and a 4,000-square-foot roof terrace.  An artistic rendering from Architects Orange portrays MODA as a contemporary five-story building.

The proposed development would be among the first new developments in a transit-oriented district which is planned around Monrovia Station, which is served by the 31-mile Gold Line.

176 Affordable Housing Units Open in Wilmington

The new housing has already received 3,000 applications.
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Nonprofit developers Abode Communities and Mercy Housing California have completed construction of Camino del Mar and Vista del Mar, two projects feature 176 affordable homes near the L.A. Waterfront in Wilmington.