LOS ANGELES, CA – Thrive Living, with the support of JPMorgan Chase, is delivering a new 376-unit affordable and workforce housing community on the site of a former industrial storage facility north of Downtown Los Angeles.
Last year, Thrive Living secured entitlements for the site, located at 1457 North Main Street, and recently started construction of a contemporary six-tale mixed-use apartment complex that will help meet the need for more affordable and workforce housing in Los Angeles.
JPMorgan Chase, through its Workforce Housing Solutions group (formerly Capital Solutions), is providing a $68.5 million construction loan to an entity controlled by Thrive Living, which anticipates completing the Main Street project by December 2024.
The rents for all of the building s 376 units are attainable for low- and moderate- income residents earning up to 80% Area Median Income (AMI). Some examples of moderate-income residents are teachers, nurses, and other essential workers for whom housing costs often exceed more than half of their income. The building will also welcome individuals with Housing Choice Vouchers.
This project aligns with Thrive Living s mission to buy and redevelop strategically located sites in urban markets that are experiencing significant housing affordability gaps. Like other Thrive communities, the Main Street project is privately financed without the use of scarce public subsidies.
Our non-subsidized financing model enables us to make a larger impact and go quicker to build more affordably priced housing without concern for ceilings imposed by limited tax credits, said Zak Tendle, Principal, with Thrive Living s Los Angeles office. We are so appreciative of the opportunity to work with the team at JPMorgan Chase and bring this vital housing project to life in Los Angeles, where quality housing that is affordable to residents is in such small supply.
JPMorgan Chase is a leader in providing debt for low-income housing tax credit (LIHTC) affordable housing projects. Our Workforce Housing Solutions group expands our financing offerings to include workforce and mixed-income projects with restricted rents, said Lionel Lynch, Director of the Community Development Banking Workforce Housing Solutions Group at JPMorgan Chase. This fully rent-restricted Main Street project fills a significant gap between affordable housing for low- income families funded with LIHTC and unrestricted market-rate housing, providing safe and stable housing with attainable rents in high quality new construction with vibrant community amenities.
This is JPMorgan Chase s first construction loan to a 100% rent- and income-restricted workforce housing multifamily community.
Thrive s Main Street property features a cost-effective, innovative design approach that drives down construction costs while maintaining quality. The company s goal is to build upwards of 5,000 units of affordable and workforce housing each year in California.
The 1457 Main Street project reflects Thrive Living s approach to make spaces for residents that enrich the living experience. The property will include resident amenities equal to or better than many market-rate developments. These include a landscaped roof deck, including a BBQ and dining area with seating, as well as a gym, recreation room, Amazon package room, and business center. The transit-oriented property is located near public transportation, and is a small walk from the Los Angeles Historic Park as well as dozens of shops, restaurants, and other community amenities. Parking will be located below the building and will include EV charging stations.

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SAN DIEGO, CA – Affirmed Housing, a leading provider of affordable housing throughout California, in partnership on a long-term ground lease with HP Investors, a San Diego-based real estate investment and management company, announced that construction has commenced on Symphony at Del Sur, a new mixed-use, workforce housing community located in San Diego s Del Sur neighborhood and within the Poway Unified School District.
Once complete, Symphony at Del Sur will deliver more attainable housing options and seamless living opportunities for middle-income families and local workers who are otherwise commuting long distances to work. The complex will feature 171 apartments for households earning between 30 and 80 percent of the area median income (AMI), as well as 8,768 sq. ft. of commercial retail space for a future tenant, such as a restaurant, that will provide a gathering place for families and generate jobs in the area.
This project demonstrates what s possible when we come together to do on a common goal – housing hardworking San Diegans, Mayor Todd Gloria said. I m proud that our Affordable Housing Permit Now program, which stemmed from my executive order to streamline permitting for affordable housing projects, has helped Affirmed Housing get these critically needed, rent-restricted new homes through the process so quickly.
Symphony at Del Sur s development uniquely leverages only federal and state tax credits, along with conventional permanent debt. Working alongside the City to secure necessary approvals, Affirmed Housing tapped Affordable Housing Permit Now, a program made this year by the City s Development Services Department in response to an executive order issued by Mayor Gloria directing City staff to streamline the ministerial permit process for affordable, workforce housing projects. The program s accelerated timeline benefits allowed Affirmed Housing to obtain building permits in roughly five months, rather than the more typical 9+-month timeline. The development, one of the first to use the new program, has been well received.
Ensuring safe, high-quality housing for citizens at all income levels is paramount for cities health and prosperity, and the City of San Diego has been a consistent, reliable partner providing the tools necessary to deliver urgently needed housing resources quickly and efficiently, said Affirmed Housing President Jimmy Silverwood. Symphony at Del Sur showcases what s possible under these policies, and it raises the bar on what it looks like to build sustainable and inclusive communities that everyone can delight in.
Symphony at Del Sur is situated on an approximately 3.2-acre site, making use of creative layout strategies to maximize buildable space on the land s unique topography. With height sensitivities in mind, the project s structures are capped out at three tales and will contain 171 apartment homes in a mixture of one-, two-, three- and four-bedroom units, two of which are set aside for the onsite property managers. Each apartment will come with energy-efficient appliances and HVAC. Offsetting a large part of the tenant electrical load, all available rooftop space will be utilized for solar PV. For added sustainability, water-saving measures will also be employed throughout the all-electric residential part of the project.
Incorporated throughout the development are several shared amenities designed to foster community engagement. In addition to the shared laundry room, the first floor will house a community room, an activity-learning center for after-school programs, multiple recreation areas, and property management offices. Outdoor amenities, including play areas for children ages 2-12 and 13-17, will be provided in five main courtyards distributed across the site, and there will be a three-tale garage structure for residential and commercial parking. Residents will also have complimentary access to onsite services and programs relating to financial literacy, health and wellness, resume building, parenting and computer training. An onsite service coordinator will plot community-building activities.
Further supporting Affirmed Housing s emphasis on seamless living, Symphony at Del Sur is located within a high-resource area, giving residents simple access to several off-site amenities. Conveniently located nearby are a public park, public library, grocery store, medical center and pharmacy.
Affirmed Housing s development partners for Symphony at Del Sur include: DAHLIN Architecture Plotting, Project Design Consultants a Bowman Company, NOVA Engineering and Form/Work Landscape Architecture. HA Builder, an affiliate of Affirmed Housing, is the project s general contractor.

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GEORGETOWN, TX – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced the start of preleasing at Modera Georgetown, a garden-style community located in one of the fastest-growing cities in the U.S.
Situated approximately 25 miles north of downtown Austin, Modera Georgetown features 318 apartment homes and is part of Highland Village, a master-plotted community that also includes single-family homes, commercial development, a three-acre park and a recreational trail system. First go-ins are anticipated for February.
“Georgetown continues to become one of the fastest growing and most desirable locales across the Austin region with its small-town vibe, charm and conveniences,” said Matthew Bunch, managing director of development in Austin for Mill Creek Residential. “As the area becomes a more well loved living destination, demand for quality housing has followed suit. We’re keen to help address that demand by offering a refined living experience in a comfortable location not far removed from the thriving employment and entertainment districts of the city.”
Located at 29600 Ronald Reagan Boulevard, Modera Georgetown features a modern farmhouse architectural design, high-end interior finishes and deluxe amenities. Interstate 35, SH-130 and SH-195 are within a small drive of the community and provide connectivity to the greater Austin metro area to the south and the Killeen/Fort Cavazos (formerly Fort Hood) area to the north.
Residents also can easily access Georgetown’s historic town square and surrounding area, which is home to a bevy of restaurants, craft breweries, entertainment venues and cultural attractions. The community also sits within four miles of well loved Lake Georgetown, within one mile of the emerging Parmer Ranch master-plotted community and is part of the thriving Georgetown Independent School District.
Modera Georgetown offers one-, two- and three-bedroom homes with various layouts available and an average size of 914 square feet. Community amenities include a resort-style pool with tanning ledge, grilling area, resident clubhouse with work-from-home spaces and coffee bar, landscaped courtyards shaded by heritage oak trees, pickleball courts, onsite pet park and pet spa, playground, common-area WiFi and a club-quality fitness center with cardio equipment and a yoga/Pilates studio.
Apartment interiors feature nine-foot ceilings, wood plank-style flooring, stainless steel Energy Star appliances, granite countertops, pull-down faucets, tile backsplashes, under-cabinet lighting, in-home washers and dryers and walk-in closets. Bathrooms include soaking tubs and tile surrounds with double vanities in select homes.

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