Samuelian Group scoops up Silver Lake development site as ED1-backed affordable housing breaks ground
Samuelian Group is making progress toward turning a vacant lot in Silver Lake into affordable housing. The El Segundo-based developer acquired a three-parcel site at 835 North Hyperion Avenue for nearly $5.3 million, L.A. Business First reported. The seller was Hyperion Apartments LP, linked in state business records to developer Jason Lewis. Samuelian Group proposed a 77,000-square-foot project consisting of 105 units for residents making 30 to 80 percent of area median income, or between roughly $22,695 and $60,250 annually for one person. The project, dubbed “Silver Lake Flats,” broke ground earlier this month and is expected to be completed […]This article originally appeared on The Real Deal. Click here to read the full story.
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