The Olson Company is planning to build 30 affordable homes and 64 market-rate homes in a new complex dubbed “Magnolia Walk” in South Los Angeles, Curbed reported.
Homes will range in size from 1,400 square feet to just over 2,000 square feet. Prices will start at $80,000 for low-income residents, and range upwards of $400,000 for the market rate homes.
Low-income residents will also receive down-payment aid from the county.
Magnolia Walk will take shape a few blocks south of the 104-acre recreational Earvin “Magic” Johnson Recreational Area.
The Olson Company provides transit-oriented housing, mixed-use complexes, artist lofts and neighborhood developments, with an emphasis on affordability. Other communities include Monarch Walk in Orange County, Tapestry Walk in Anaheim and Fig & Fifty Walk in Highland Park. [Curbed] – Natalie Hoberman