The new development is adjacent to the Blue Line Metro Station, with quick access to the 710 Freeway. Blu units include single-level and two-level townhomes, live/work lofts and penthouses of up to three bedrooms and two baths, ranging from 1,047 square feet to 1,638 square feet.

Blu is an example of Los Angeles-based CityView's mission to finance "New Urbanism" communities, according to Henry Cisneros, CityView's executive chairman and former HUD secretary in the administration of former president Bill Clinton. Cisneros says that the CityView goal is to create reasonably priced communities near employment, amenities and transportation centers. He notes that Blu is offering a 3.5% FHA down payment program.

Tripp DuBois, vice president of marketing and sales for the Kor Group, points out that community amenities at Blu includean interior courtyard with an outdoor living room and fireplace, gathering and seating areas, a putting green, an outdoor grilling area and landscaping. Other community spaces include a resident club room with pool table, flat screen TVs, card tables, a wet bar and social seating, as well as a private fitness center that opens to the courtyard, and a furnished lobby with Internet café.

CityView has $745 million in assets representing more than $2 billion in real estate transactions. The company has created more than 7,000 homes in 30 markets across 13 states.