Construction is now underway for a 4.1-acre apartment complex in South Gate, announced Dekel Capital.
Jefferson on Imperial, billed as the Southeast Los Angeles County city's first large multifamily development in the last 30 years, will replace a 4.1-acre shopping center at 10920 Garfield Avenue. Plans call for a four-story building featuring 244 apartments in one-, two-, and three-bedroom floor plans. The building's central parking garage will include 458 vehicle stalls.
The project, which broke ground in March, is being developed by JPI.
WHA is designing the project, and Alliance Residential Company will serve as property manager.
“South LA has long been overlooked by multifamily developers in this current cycle which presents a great opportunity for JPI,” said Shlomi Ronen, a Dekel Capital Principal. “This property will offer above average amenities and finishes at an affordable price point for the average two-income working household, something this market is severely lacking. Housing demand and job creation remains high and the lack of new housing options should enable this to be a very successful project for JPI.”
Dekel Capital provided $80 million in equity and construction financing for Jefferson on Imperial, which is on pace for delivery in October 2020.
The project site is located midway between proposed West Santa Ana Branch stations at Firestone Boulevard and within the median of the I-105 freeway. South Gate has planned for similar developments to Jefferson on Imperial along Firestone and Atlantic Avenue, in advance of the light rail line's arrival.
The City of South Gate is also working on a 30-acre park along the banks of the Los Angeles River, just east of JPI's development.
- South Gate (Urbanize LA)