EGC Real Estate Group employs Assembly Bill 1287 to file revised plans for a seven-story, 224-unit building in Central Los Angeles. The law allows a 50% density increase if a portion is affordable housing.
The new plan includes 34 affordable units for very low-income and moderate-income households. The project features a modern design with amenities like balconies, a courtyard, and a rooftop deck.
EGC's other developments in Central Los Angeles include an eight-story, 63-unit building and a 67-unit complex. They secured a $22 million loan to recapitalize the latter from Bolour.
#real-estate-development #affordable-housing #legal-regulations #urban-development #architectural-design
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