The real estate space of Los Angeles is geared up for a positive shift with a new housing project in Torrance. Developed by City Ventures, this project will assist aspiring homeowners in LA by introducing 35 new townhomes. The Torrance-based housing project will also contribute to affordable housing.
Highlights
- Two office buildings from the 1970s and a parking lot will be demolished to make way for 35 new townhomes in Torrance.
- The project’s developer, City Ventures, will be building four moderate-income housing units as well.
- KTGY will be designing the latest housing project in Los Angeles.
Torrance Welcomes 35 New Townhomes
An image of 1407-1455 Crenshaw Blvd. (Source: @sbrbnla)
Aspiring homeowners in Torrance received exciting news this May with the launch of a new housing project. The Planning Commission of LA approved plans to demolish two office buildings from the 1970s and a parking lot at 1407-1455 Crenshaw Boulevard.
Five contemporary-style buildings will be developed at the location, which will include 35 townhomes above ground-level parking. Helmed by City Ventures, the Crenshaw Boulevard-based project will also include four units for moderate-income households in LA.
The developer is also active across Southern California with projects for South Gate, Santa Ana, and Artesia.
New Apartments Await Aspiring Homeowners in LA
Located in the residential Madrona neighborhood, the latest housing project will be designed by KTGY. Plans are underway to develop a mix of three- and four-bedroom units, which will range in size from 1,377 to 1,614 sq. ft.
All 35 townhomes, which will be located in five separate buildings at Crenshaw Boulevard, will share a common driveway.
Apart from these, the four housing units for moderate-income earners in LA will be developed in exchange for density incentives offered to City Ventures.
Timeline and Pricing of the Project
As of now, the members of City Ventures have not announced any dates for the completion of the Torrance-based housing project.
There is no information about the rate of the 35-townhome project either. However, in March 2022, the median townhome price in the city was about $929,000.
Townhomes Are The New Trend in Torrance
Bringing a new shift to the real estate world of Torrance, townhomes are in high demand. In a recent development, Lennar Corp. approved plans for building a giant housing complex adjacent to the Del Amo Fashion Center.
The new townhome development project at Crenshaw Boulevard highlights a step towards meeting the housing needs in Torrance. Led by City Ventures, the project will not only modernize an old commercial site but also help moderate-income households.
The community-focused living space will further enhance the residential landscape of LA.
