Small Lot Development Represents New Model of Homeownership in South Los Angeles

Eight Energy-Efficient Townhomes Open near USC

LOS ANGELES, Aug. 14 /PRNewswire/ -- For more than twenty years, a vacant
lot stood on Leighton Avenue near Vermont Avenue and Martin Luther King Jr.
Boulevard. Today Enterprise Home Ownership Partners (EHOP) and Councilmember
Bernard C. Parks, Los Angeles City Council District 8, celebrated the grand
opening of eight energy-efficient, three bedroom, for-sale townhomes located
on the site.
Under the City of Los Angeles Small Lot Subdivision Ordinance (No. 176354)
approved in January 2005, EHOP plans to build similar style energy-efficient
townhomes in densely populated sectors of Los Angeles. For the townhomes on
Leighton Avenue, EHOP engaged long-time supporters Councilmember Parks, the
Los Angeles Community Redevelopment Agency, and the City of Los Angeles
Housing Department in a strong public-private partnership to create this
homeownership opportunity on the 10,562 square foot lot.
"Projects such as the Leighton townhomes are a welcome addition to the
Eighth District," said Councilmember Parks. "By building homes on this
formerly vacant property, we are creating a new tax-base and providing people
with homes that are good for the neighborhoods, good for the environment and
good for their families."
Each home is three stories and approximately 1,350 square feet. The
townhomes start at $399,000 and feature three bedrooms, two baths and an
attached two-car garage. Centrally located to public transportation, shopping
and businesses, the townhomes are available to individuals and families
earning up to 150 percent of the area median income.
Each environmentally sustainable home features a tankless water heater,
energy-efficient lighting, low-e windows, low-flow plumbing fixtures and high
efficiency toilets, Energy Star dishwashers, and roof-top photovoltaic (solar
electric) systems that will reduce utility costs. All townhomes also have been
pre-wired for security systems, have fire sprinkler systems, and offer central
heating and air-conditioning.
"Our work through EHOP illustrates Enterprise's commitment to build
healthy, sustainable homes that people can afford in Los Angeles," said Jeff
Schaffer, Southern California Director of Enterprise Community Partners, Inc.
"The townhomes on Leighton Avenue, and the other townhomes we have in
development, are only made possible with the support from our city officials
and housing agency partners who have demonstrated a commitment to building
more affordable for-sale housing and addressing the affordable housing needs
in our great city."
EHOP is a supporting organization of Enterprise Community Partners. Since
its inception in 2000, EHOP has rehabilitated and sold more than 500 single
and multi-family affordable units in the City of Los Angeles, through the HUD
Asset Control Area (ACA) program. Through the Small Lot Subdivision Ordinance
EHOP currently has three additional small lot properties under construction,
which are creating twelve additional new townhomes in the area.
"Sustainable urban and energy-efficient design fits CRA/LA's vision of
creating healthy, livable neighborhoods," said Cecilia V. Estolano, Chief
Executive Officer of CRA/LA. "We are proud to have helped to provide
workforce, middle income sustainable housing in one of our redevelopment
project areas."
"The Los Angeles Housing Department is proud to partner with EHOP in their
development of the Leighton Townhomes and continued success providing
affordable homeownership opportunities to low and moderate-income households
in Los Angeles," said Doug Swoger, director of Homeownership and Preservation,
Los Angeles Housing Department.
Enterprise's Green Communities(R) initiative provided EHOP with a grant
for installation of energy-sustainable features in the townhomes, and the
South Coast Air Quality Management District provided more than $1 million for
the installation of photovoltaic (solar) electrical systems for this and other
developments throughout the city.
Enterprise is a leading provider of the development capital and expertise
it takes to create decent, affordable homes and rebuild communities. For more
than 25 years, Enterprise has pioneered neighborhood solutions through public-
private partnerships with financial institutions, governments, community
organizations and others that share our vision. Enterprise has raised and
invested more than $9 billion in equity, grants and loans to help build or
preserve more than 240,000 affordable rental and for-sale homes to create
vital communities. Enterprise is currently investing in communities at a rate
of $1 billion a year. Visit www.enterprisecommunity.org and
www.enterprisecommunity.com to learn more about Enterprise's efforts to build
communities and opportunity.
SOURCE Enterprise Home Ownership Partners

TeAnne Coleman Chennault of Enterprise Home Ownership Partners,
+1-213-833-7988 ext. 32, or cell +1-301-343-0742,
tchennault@enterprisecommunity.org