Developer to build 57 condos in Compton

OC-based Olson Homes will sell 10 to low-income families

Los Angeles /
Mar.March 21, 2022 01:15 PM
Olson Homes chairman and founder Stephen E. Olson and renderings of the townhome project at 250 N. Central Avenue in Compton (Google Maps, Olson Homes)

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





    Related Articles

    arrow_forward_ios
    A photo illustration of the recently nixed mixed-use complex at 27001 La Paz Road in Mission Viejo (ValueRock Realty, iStock)
    South OC city puts kibosh on mixed-use housing plans
    South OC city puts kibosh on mixed-use housing plans
    Michael Gray and 309 Via Lido Soud (Hoag Hospital, Coldwell Banker via Toby Ponnay)
    St. John Knits scion seeks high-water mark on Newport Harbor manse
    St. John Knits scion seeks high-water mark on Newport Harbor manse
    Laguna Niguel (Jeff Gritchen/Orange County Register/Getty, iStock)
    Laguna Niguel wildfire hits swath of luxury homes
    Laguna Niguel wildfire hits swath of luxury homes
    Lyon Living's Frank Suryan Jr. and The Herald complex at 150 East Crowther Avenue (Lyon Living, Herald Apartments)
    Lyon Living set new benchmark on multifamily pricing with sale in north OC
    Lyon Living set new benchmark on multifamily pricing with sale in north OC
    MAG Capital Partners' Andrew Gi with Charlmont Village townhomes, 1625 East G St.,, Ontario (Mag Capital Partners)
    Texas investor pays $24M for 55 townhomes in Ontario
    Texas investor pays $24M for 55 townhomes in Ontario
    645 Madison Avenue (Google Maps, iStock)
    OC investors in $200M land deal on Madison Avenue
    OC investors in $200M land deal on Madison Avenue
    Milan Panic with 60 Golden Eagle (Wikipedia)
    Milan Panic listing sheds light on Shady Canyon luxe
    Milan Panic listing sheds light on Shady Canyon luxe
    Houses along Laguna Beach (iStock)
    OC median reaches $1M as home prices hit records across SoCal
    OC median reaches $1M as home prices hit records across SoCal
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...