Bank of America, which provided financing for the first two phases of the multi-phase revitalization of Jordan Downs in the Watts neighborhood of Los Angeles, has released a new video showing the amazing progress by Michaels, BRIDGE Housing, and the Housing Authority of the City of Los Angeles.
Michaels, along with the non-profit, California-based development company BRIDGE Housing, were selected by HACLA in 2012 to be the master developers for the Jordan Downs revitalization effort.
When fully complete, the site will be transformed into an urban village, with the 700 WWII-era units of the original Jordan Downs replaced by more than a 1,400 new homes for new and existing residents, as well as new retail spaces, a new community center, and over nine acres of open green space. Much of the planning for the redevelopment of the site was resident-driven.
The development has benefitted from multiple financing sources, including a Choice Neighborhood Initiative grant, federal Low Income Housing Tax Credits, and a "green grant" from California's Cap-and-Trade Program.
The first phase of the redevelopment included newly constructed housing by Michaels and BRIDGE as well as infrastructure improvements, including an extension of Century Blvd., and new retail, which features a fresh market.
Michaels recently broke ground on the next phase of housing.
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