Urban Development Projects in Los Angeles & Portland
Bethany Square
Bethany Square is a master planned mixed-use real estate project located on Hoover Street between 83rd Street and Manchester Avenue in South Los Angeles. The Bethany Square Project, which has strong community and political support including the Community Redevelopment Agency of Los Angeles (CRA/LA), will be developed in three phases on six distinct land parcels covering approximately four (4) acres.
Montclair West Adams
The Montclair Project is a mixed-use project located along West Adams Boulevard and Montclair Street between Crenshaw and Arlington Boulevards just south of the 10 Freeway in Los Angeles. The site consists of six separate parcels that are further identified as Sites A and B.
The Project, slated for groundbreaking in the fourth quarter of 2008, involves a revitalization of 1.1 acres in a historically significant, highly traveled, and neglected section of Los Angeles and consists of an approximately $60+ million mixed-use development on the northwest corner of the Jefferson Park area and adjacent to the West Adams Terrace Historic Preservation Overlay Zone.
MWA will utilize the architectural aesthetic of the Historic West Adams area while removing the functional obsolescence to achieve the necessary efficiencies, both in terms of economics and use for the intended buyers. Download PDF Plan (3MB)
Gerding Theater at the Armory
CEO Norris Lozano helped preserve the historic (1891) Portland Armory and transform it into a new home for Portland Center Stage by structuring one of the nation’s first leveraged NMTC transactions along with Novogradac & Company, Nixon Peabody, USBank and the Portland Development Commission. The transaction also utilized Historic Tax Credits, Business Energy Tax Credits, and Tax Increment Financing. The Gerding Theater at the Armory was the first building on the National Register of Historic Places to receive a LEED Platinum designation from the US Green Building Council. Read the Wikipedia article for more information.
The Civic
Thanks to NMTC financing from two CDEs, The Civic Apartment building has been transformed from a boarded up eyesore to for-sale condominiums targeted primarily at first time homebuyers; ground floor retail; affordable housing, parking and an open promenade. Lozano created a condominium structure that allowed the retail component to receive funds through NMTC while the affordable housing was leveraged using Low Income Housing Tax Credits.