State Treasurer Fiona Ma joined with Assembly Speaker Anthony Rendon, Paramount city officials and representatives of BLDG Partners at a ribbon-cutting ceremony on March 25 to celebrate the transformation of the Enclave Apartments into much-needed workforce housing for “the missing middle.”
Finance Authority (CMFA) to acquire the 306-unit Enclave Apartments in Paramount, Calif., for $128.5 million. With a yearslong affordable housing crisis and rents expected to continue to rise throughout the region, rents will be lowered for residents earning between 80 to 120 percent of the area median income.
The City of Orange is the latest location touched by the growing wave of “workforce housing” conversions. BLDG Partners, a Beverly Hills-based real estate investment firm and developer, recently announced that it will join the trend after buying a 282-unit market-rate apartment building in Orange.
Great Lakes Community Action Partnership is a community action agency, a type of non-profit created in the 1960s to fight poverty. Founded in 1965, GLCAP has anti-poverty efforts that range from childcare and education, job-training and placement, senior citizen support, and veteran support. GLCAP's focus in northwest Ohio has improved the lives of families for over half a century, and BLDG is proud to join the cause in the 21st century.