Project Description
Adams & Central Mixed-Use Development
Address: 1011 E. Adams Boulevard, Los Angeles, CA 90011
Phone Number: (213) 745-7713
Year Completed: 2010
Type: Family | Units: 80
Management: Solari Enterprises, Inc.
Partners/Lenders:
- Community Redevelopment Agency of Los Angeles
- Los Angeles Housing Department
- Community Development Department of Los Angeles
- Housing and Community Development Department
- Bank of America
- California Community Reinvestment Corporation (CCRC)
- California Tax Credit Allocation Committee (CTCAC)
This mixed-use development project completed by Meta Housing Corporation is a true success story for the City of Los Angeles and for the Meta Housing team. The property, which garnered a number of prestigious awards, includes an 80-unit affordable multifamily community situated above a ground floor retail space, which is occupied by a Fresh & Easy grocer.
Prior to the development of this property, the South Los Angeles neighborhood in which Adams & Central is now located was identified as a “Food Desert” due to its lack of fresh food options. The people living in this area were purchasing foods only at corner stores and liquor stores, which contributed to higher food prices, and less healthy food options.
Meta Housing worked closely with the City of Los Angeles Councilman’s office, as well as the City’s Redevelopment Agency in order to identify a smart growth opportunity which would attract a grocery tenant to offer fresh foods to the people in this neighborhood. The project also brought new jobs to the community, as Fresh & Easy hired many individuals from the surrounding area. The project was financed using New Market Tax Credits, as well as 4% tax credits and bonds.