George Smith Partners has secured $22.3 million in financing for the ground-up development of a workforce multifamily property located in Los Angeles’ Koreatown district, according to Rebusiness Online.
Located at 3057 W. Pico Blvd., the project will be developed by a joint venture between Index Real Estate Investments and Ketter Construction.
The project will feature 51 workforce apartment units and 3,350 sq. ft. of ground-floor retail space.
Construction is underway, with a slated completion in early 2020.