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Small Lot Development Represents New Model of Homeownership in South Los Angeles

Under the City of Los Angeles Small Lot Subdivision Ordinance (No. 176354) approved in January 2005, EHOP plans to build similar style energy-efficient townhomes in densely populated sectors ofLos Angeles. For the townhomes on Leighton Avenue, EHOP engaged long-time supporters Councilmember Parks, the Los Angeles Community Redevelopment Agency, and the City of Los Angeles Housing Department in a strong public-private partnership to create this homeownership opportunity on the 10,562 square foot lot.

"Projects such as the Leighton townhomes are a welcome addition to the Eighth District," said Councilmember Parks. "By building homes on this formerly vacant property, we are creating a new tax-base and providing people with homes that are good for the neighborhoods, good for the environment and good for their families."

Each home is three stories and approximately 1,350 square feet. The townhomes start at $399,000 and feature three bedrooms, two baths and an attached two-car garage. Centrally located to public transportation, shopping and businesses, the townhomes are available to individuals and families earning up to 150 percent of the area median income.

Each environmentally sustainable home features a tankless water heater, energy-efficient lighting, low-e windows, low-flow plumbing fixtures and high efficiency toilets, Energy Star dishwashers, and roof-top photovoltaic (solar electric) systems that will reduce utility costs. All townhomes also have been pre-wired for security systems, have fire sprinkler systems, and offer central heating and air-conditioning.

"Our work through EHOP illustrates Enterprise's commitment to build healthy, sustainable homes that people can afford inLos Angeles," said Jeff Schaffer,Southern California Director of Enterprise Community Partners, Inc. "The townhomes on Leighton Avenue, and the other townhomes we have in development, are only made possible with the support from our city officials and housing agency partners who have demonstrated a commitment to building more affordable for-sale housing and addressing the affordable housing needs in our great city."

EHOP is a supporting organization of Enterprise Community Partners. Since its inception in 2000, EHOP has rehabilitated and sold more than 500 single and multi-family affordable units in theCity of Los Angeles, through the HUD Asset Control Area (ACA) program. Through the Small Lot Subdivision Ordinance EHOP currently has three additional small lot properties under construction, which are creating twelve additional new townhomes in the area.

"Sustainable urban and energy-efficient design fits CRA/LA's vision of creating healthy, livable neighborhoods," said Cecilia V. Estolano, Chief Executive Officer of CRA/LA. "We are proud to have helped to provide workforce, middle income sustainable housing in one of our redevelopment project areas."

"The Los Angeles Housing Department is proud to partner with EHOP in their development of the Leighton Townhomes and continued success providing affordable homeownership opportunities to low and moderate-income households inLos Angeles," said Doug Swoger, director of Homeownership and Preservation, Los Angeles Housing Department.

Enterprise's Green Communities(R) initiative provided EHOP with a grant for installation of energy-sustainable features in the townhomes, and the South Coast Air Quality Management District provided more than $1 million for the installation of photovoltaic (solar) electrical systems for this and other developments throughout the city.

Enterprise is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. For more than 25 years, Enterprise has pioneered neighborhood solutions through public- private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested more than $9 billion in equity, grants and loans to help build or preserve more than 240,000 affordable rental and for-sale homes to create vital communities. Enterprise is currently investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.

SOURCE Enterprise Home Ownership Partners