LA Plaza Village Breaks Ground in El Pueblo
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LA Plaza Village
Los Angeles—High Street Residential, Principal Real Estate Investors and the Cesar Chavez Foundation have kicked off construction of LA Plaza Village, a 355-unit multifamily project that will meld the historic with the modern, and create a cohesive link in one of Los Angeles’ oldest neighborhoods.
Carrying the addresses of 555 N. Broadway and 555 N. Spring St. in downtown Los Angeles’ historic El Pueblo district, the Johnson Fain-designed LA Plaza will be a 425,000-square-foot destination with four mid-rise structures featuring high-quality residences and 43,700 square feet of retail space. Those are just the basics. There are more than a few aspects of LA Plaza that stand out, and the designation of 20 percent of its units as affordable housing is one of them. Setting aside a sizeable portion of the apartments for low- and moderate-income residents will help answer a very loud cry in the city, as the median rent in Los Angeles County has skyrocketed 28 percent since 2000, while the median renter household income has dropped 8 percent, according to a report released in May by the Southern California Association of NonProfit Housing…
