Jordan Downs was originally built in the 1950s. Photo by Ringo Chiu. Jordan Downs, an expansive housing complex in Watts, is in the midst of a $1 billion redevelopment. Originally built for factory workers during World War II, Jordan Downs was converted into low-income housing in the 1950s. Under the redevelopment’s 10-year master plan, the complex will double in size, from 700 units to 1,400, and most of the new units will be affordable housing. The redevelopment is also expected to create green space and add retail opportunities. Bridge Housing Corp. and Michaels Organization are the development team for the project. The Housing Authority of the City of Los Angeles is the owner. CIT Bank has provided $47 million for the third-phase of the project, which is a 92-unit apartment complex catering to residents earning 30%-80% of the area’s median income. CIT Bank will open a branch of its OneWest Bank in the project, with a dedicated mortgage office. Parts of the project are already complete. Development 1A consisted of 115 affordable rental apartments in 12 buildings, and 1B consists of 135 units. A retail center separate from the apartment buildings was developed by Primestor Development Inc. It hasn’t […]
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