Acq/Rehab Low-Income Family Apartments, Los Angeles
Joint venture preserves scatter-site affordable housing
Jamboree acquired Royals as part of a joint venture with Preservation Partners Development, a company that acquires, rehabilitates and permanently preserves “at risk” affordable housing resources originally developed under the U.S. Department of Housing and Urban Development (HUD) financing and direct rental subsidy programs. A scattered site reaching from the University of Southern California up to Paramount Studios, Royals were originally rehabilitated in 1960.
After acquiring the property, Jamboree and Preservation Partners Development completed another extensive renovation to improve the quality of the properties and maintain long-term affordability for residents in Los Angeles County. Apartments include studios, one-bedrooms and family apartments.
The communities feature modern architecture and are located in walkable communities that encourage an active lifestyle and community involvement. All locations are gated for security.