LACAHSA Provides $7.5 Million Construction Loan For 120-Unit Affordable Housing Project In Inglewood

The asset involved in this transaction is a development site located at 400-410 Centinela Avenue, Inglewood, CA. This specific site will host Sankofa Place, a project composed of 120 affordable housing units. The construction loan amounts to $7,500,000 and is part of a larger $94.7 million development initiative.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,500,000
• Loan Type: Construction
• Lender: The Los Angeles County Affordable Housing Solutions Agency (LACAHSA)
• Landlord: Venice Community Housing, Linc Housing & Social Justice Learning Institute
• Square Footage of Headquarters: 18,000 square feet

The deal features several key players including the lender, The Los Angeles County Affordable Housing Solutions Agency, and landlords represented by Venice Community Housing, Linc Housing, and the Social Justice Learning Institute. This construction loan is earmarked for significant infrastructure development, with ground-breaking set to commence this month.