Developer to build 57 condos in Compton
OC-based Olson Homes will sell 10 to low-income families
A developer will soon construct 57 condominiums on land once owned by a community redevelopment agency in Compton.
Seal Beach-based Olson Homes won approval this month for plans to build the townhome-style condominium complex at 250 N. Central Ave., Urbanize Los Angeles reported.
The three-story Monterey/Spanish-style complex will be constructed on a 2.55-acre property once owned by the successor agency to the CRA in Compton. Olson Homes paid $607,161 for the lot, according to a sales agreement.
Plans call for a mix of two- and three-bedroom homes, ranging from 1,193 to 1,644 square feet, with a 5,000 square-foot recreation area.
Construction is expected to take 13 months.
Olson Homes will be required to set aside 10 of the new townhomes for purchase at rates deemed affordable to qualified low-income households.
The Orange County-based firm, founded in 1988 by Stephen E. Olson, has developed more than 11,000 urban infill homes across California, according to its website.
It has built income-restricted units for sale in the nearby unincorporated community of Willowbrook, and now has townhomes in the works in Buena Park and La Mirada.
[Urbanize Los Angeles] – Dana Bartholomew