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 […]

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