VENICE, CA-City officials, together with Aimcoexecutives and Los Angeles Mayor AntonioVillaraigosa, recently broke ground on the redevelopmentof Lincoln Place, a 35-acre apartment communityhere. The rehabilitation effort is expected tocost $140 million and bring 600-800 jobs, economic development andpremier apartment living to this area of Los Angeles.
The redevelopment includes the rehabilitationof 45 buildings with 696 apartment homes and theconstruction of 99 new apartments on vacant parcels. Phase One ofthe project was completed in April with the redevelopment of fourbuildings and 65 apartments for returning residents.
The property, listed on the national and California registers ofhistoric places, was originally constructed between 1949 and 1951;the redevelopment will be done in accordance with theSecretary of Interiors Standards for the Treatment ofHistoric Properties. The project also will featuresustainable measures to reduce existing energy andwater usage by more than 30%.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
