News

Correa presents city of Orange with $850,000 in federal funds to help build new park

Los Angeles Times / 8.8.24

Near the banks of the Santa Ana River and the trail that runs parallel to it, a strip of dirt and asphalt stretches out toward the horizon. The area off West Chapman Avenue is in the middle of one of the city of Orange’s most park-poor areas, but the land won’t stand empty for much longer. Adjacent to the middle-income Allure Apartments community, The City of Orange worked with BLDG Partners and Agora Partners to conceptualize the plan for the park and in October 2024, MIG Inc. was awarded the design contract. The concept art for the park includes art installations, a skate plaza, picnic tables with custom shade structures, kids playgrounds on both wood chip and poured rubber terrains and solar lighting throughout.

https://www.latimes.com/socal/daily-pilot/entertainment/story/2024-08-08/850-000-in-funds-awarded-to-city-of-orange-for-west-orange-park

BLDG development receives a Single-Family Residential - Medium | Citation Award from the AIA Los Angeles’ 2024 Residential Architecture Awards.

AIA Los Angeles / 6.21.24

The AIA jury writes, The Santa Monica Courtyard Houses utilize simple volumes to create high-impact moments, selecting these moments with precision. The courtyard and window details, particularly where curvature is introduced, are standout features. The inclusion of a skylight adds to the design's elegance, enhancing the natural light and spatial experience. This approach echoes the early 20th-century discoveries of white box architecture by pioneers like Schindler and Neutra, but with a contemporary twist. The result is a series of spaces that are both timeless and distinctly modern, offering a fresh take on familiar architectural forms.

https://www.aialosangeles.org/home/awards/residential-architecture-awards/residential-architecture-award-winners-2024/

BLDG is Selected As a 2024 Freddie Mac Multifamily Impact Sponsor

Freddie Mac / 2.29.24

We are proud to be a 2024 Freddie Mac Multifamily Impact Sponsor. The Impact Sponsor cohort comprises sponsors who have shown significant results in providing affordable housing options, offering resident-services and / or implementing sustainability practices at their properties. The Freddie Mac Multifamily Impact Sponsor Program was started in 2021, and continues to recognize sponsors who go above and beyond advancing social impact across their portfolio. We are honored to partner with Freddie Mac Multifamily to ensure people across the US have affordable housing.

https://mf.freddiemac.com/news/2024/rolling-up-our-sleeves-with-2024-impact-sponsors

BLDG and Sunrun partner on one of the largest affordable housing solar installations in California

Yahoo Finance / 11.7.2023

BLDG Partners, the Foundation for Affordable Housing, the City of Orange and Southern California Edison partnered with Sunrun on a new solar installation at The Knolls in Orange, California, one of the largest affordable housing solar installations to be completed in California. The system provides solar energy credits to 260 apartment homes and saves each family an average of $60 per month on their electricity bills through virtual net metering. Over the next 20 years, the system is projected to save over $6 million for the low-income residents.

https://finance.yahoo.com/news/sunrun-provides-affordable-housing-community-130000119.html

Paramount apartment project target ‘missing middle’

Wave / 3.31.22

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.”

https://wavepublication.com/paramount-apartment-project-target-missing-middle/

BLDG Nabs Enclave Apartments for $129M, Converting to Workforce Housing

Commercial Observer / 2.2.22

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.

https://commercialobserver.com/2022/02/la-bldg-sale-enclave-apartments-129m-convert-workforce-housing/

Workforce housing deal goes upscale on price per unit

The Real Deal / 1.18.22

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.

https://therealdeal.com/la/2022/01/18/workforce-housing-deal-goes-upscale-on-price-per-unit/

Great Lakes Community Action Partnership & BLDG A Mutually Beneficial Partnership

Ashland Manor Apartments (Toledo, OH)

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.