Multifamily development in Los Angeles secures $22.3M

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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.

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