LOS ANGELES, CA – As California goes through its coronavirus crisis, progress towards development of permanent housing options for the homeless becomes an ever more apparent public health and safety priority.
In Los Angeles, an vital model for PSH is making its way through the plotting process and is due for approval and construction start over the next six-month period.
Enlightenment Plaza will be a place where the formerly homeless can find an environment designed to provide the best support for their recovery and reintegration into the main stream of American life at a pace that they can control.
Located in an area which will not intrude into surrounding neighborhoods, but will nevertheless be within a transit intensive zone.
Anchored by its proximity to the metro red line station at Beverly and Vermont, Enlightenment Plaza will complement the existing facilities that have been developed by path in the same area, with 330 additional units of PSH, with places for veterans, and other homeless men and women who have experienced chronic homelessness.
The development is plotted to encompass four to five phases of development over the next three years which will focus on delivery of on-site services and a variety of entrepreneurial activities designed to bring the tenants back into mainstream America, with emphasis on the “social contract” concepts of the Enlightenment theorists that are still of such basic value and currency today.
By building a complex of sufficient size, the project development team, comprised of the Pacific Companies, Flexible PSH Solutions and Killefer/Flamang (KFA) Architects, has been able to design a gated community which will provide the desired place of refuge for the tenants while taking advantage of shared facilities and modular technology designed to hold the cost per unit at the $450,000+/- level, or roughly $200,000 below the norm for recent scattered site PSH developments.
The development will have the added advantage of displacing a long time on-street camping enclave which has symbolized the problems of the homeless in the area over the past four to five years.
Stay tuned for progress reports on this model development.

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JACKSONVILLE, FL – Broadshore Capital Partners, in joint venture with an investment client, announced that it has bought the 280-unit Victoria at Orange Park apartment community in Jacksonville, FL, for $37.1 million. This is the first transaction through a new programmatic real estate investment joint venture focusing on equity and debt investments.
The new venture is targeting value-add opportunities in multifamily, such as Victoria at Orange Park, and other commercial properties. Over the next 30 months, the venture plans to make equity and debt investments ranging in size from $35 to $75 million, in approximately 8 to 12 properties. Broadshore is specifically targeting multifamily properties that will benefit from improved management and capital investments.
Victoria at Orange Park is an example of a value-add multifamily investment that meets the criteria for our new joint venture. Broadshore s team applied its expertise in multifamily investments, built over more than 30 years of investing in markets across the United States, to identify, evaluate and secure this opportunity, said Brad Howe, co-CEO, Broadshore, a national real estate investment and advisory company.
Victoria at Orange Park offers 280 units, configured as one- and two-bedroom floorplans, in 13 low-rise buildings set across 20 acres of manicured open space with abundant amenities including a resort-style pool and clubhouse. Broadshore plans a program of capital improvements to update individual residences as well as communal spaces. Built in 1986, the property has undergone periodic renovations, which the joint venture will build on, advancing unit improvements such as new appliances, flooring and fixtures, along with screening in porches, to bring them up to today s modern standards and align with the demands in the community. Further, the property s amenities and common areas will be refreshed with updates to the fitness center, opening of a business center, new furniture and fixtures for outdoor and indoor gathering spots, as well as investment in property infrastructure.
Located at 1710 Wells Road, Victoria at Orange Park has high visibility on this busy commercial corridor and provides residents simple access to the area s mix of retail and restaurants and the Orange Park Mall. The property also is convenient to major area thoroughfares connecting to downtown and the airport.
We are aware that many transactions in today s turbulent market have either been cancelled or place on hold. The fact that we are proceeding with this acquisition speaks to the strong conviction we have about the market and this opportunity, as well as the integrity of our firm and our focus on honoring our commitments, stated Howe.

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LOS ANGELES, CA – The Michaels Organization, a national leader in residential real estate, will soon break ground on the third phase of new housing at Jordan Downs, after successfully achieving a financial closing. Located in the Watts neighborhood of Los Angeles, this is the latest milestone in a comprehensive redevelopment of the city’s largest public housing community by the Housing Authority of the City of Los Angeles and its private sector partners, Michaels and BRIDGE Housing.
The $58 million Phase S3 development will provide 92 new apartments, affordable to households earning between 30% and 80% of the Area’s Median Income (AMI). Previous milestones in the redevelopment effort that started in 2012 include the first two residential developments by BRIDGE and Michaels, the extension of Century Boulevard, and the opening of new neighborhood retail, including a full service grocery store. The master plot also calls for significant new green space throughout the Watts neighborhood.
“The unprecedented collaborative efforts of HACLA, residents, community stakeholders, and our financial partners, along with the strong leadership of political officials at the local, state, and federal level continue to drive exciting milestones in the transformation of Jordan Downs,” said Kecia Boulware, Michaels’ Vice President of Development. “We are incredibly grateful to be able to keep moving forward, even during this most hard time for California and our nation.”
When the redevelopment is fully complete, Jordan Downs will be transformed into an urban village, with the original 700 WWII-era units of public housing replaced by more than 1,400 new homes for new and existing residents, as well as new commercial and retail spaces, a new community center, and over nine acres of open green space.
The apartments in Phase S3 will be offered in a variety of floor plans, featuring one, two, three and four-bedrooms, and will feature sustainable finishes and energy-efficient appliances. The development will be LEED certified with a target of LEED Gold. In addition, the apartment building will have solar PV designed to offset all the common area and central hot water heating for the development.
Financing for Phase S3 includes equity from Berkadia’s buy of 9 percent Federal Low-Income Housing Tax Credits and permanent loans through Freddie Mac, the State of California’s Affordable Housing and Sustainable Communities program, and the Housing Authority of the City of Los Angeles. The project’s State of California funding includes discounted transit passes for residents and a job training partnership to help leverage the impact of the project for neighborhood career advancement.
Jordan Downs Phase S3 will incorporate rental subsidies through Project-Based Section 8 contracts and the Rental Help Demonstration (RAD) program. The building will reserve 17 apartments to be fully accessible to residents with physical disabilities and hearing or visual impairments.
Development Team members also include Walton Construction, which is serving as the general contractor, FSY Architects serving as design lead and architect of record; Partner Energy as the sustainability lead; and Breen Engineering as lead engineer for civil and off-site improvements. Michaels Management will serve as the property manager, once construction is completed approximately 21 months from now.

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