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Completion is nearing for a multi-tenant facility for life science companies just east of the L.A. County + USC Medical Center, according to Urban Land Magazine.

The property, known as HATCH, consists of a 1930s furniture factory that has been repurposed as a "dynamic and flexible working space" for biotech startups.  BAM Studio has redesigned the two-story building with 17,000 square feet of space, capable of accomodating up to eight tenants.  The building is being marketed to startups that have outgrown their incubators, and are now need purpose-built space.

Located at 5370 Alhambra Avenue in El Sereno, the project is a joint venture between Agora Partners and ASG Real Estate.  It is considered the first privately funded development of its type in Los Angeles.

HATCH represents a core endeavor of the LA Bioscience Hub, a nonprofit organization which if focused on creating a bioscience corridor in East Los Angeles, anchored by the USC Health Science Campus, a new incubator at Cal State Los Angeles and the LAC + USC Medical Center.

Image via LABH
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Senior Affordable Housing Opens Near Orange County's Great Park

The two-building development features 157 apartments.
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Developers Related California and FivePoint have opened a new affordable housing complex near Irvine's Great Park.  The project, called Luxaira, features 157 residential units catering to low-income seniors.  It is the second senior affordable development to be built in the Great Park neighborhoods by Related, FivePoint, and collaborator RCC Charitage.  To date, more than 500 affordable housing units have been built around the park in four separate projects.