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Kennedy Wilson, Jamison Partner to Deliver 4,000 Affordable Units Across Los Angeles

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Kennedy Wilson

Kennedy Wilson and Jamison formed a strategic partnership with plans to deliver 4,000 affordable housing units across Los Angeles through adaptive reuse and ground-up construction.

The partnership is between Jamison’s newly launched affordable housing division, Arden Residential, and Kennedy Wilson’s affordable housing development joint venture, Vintage Housing.

First up will be the re-adaptation of the former LA World Trade Center at 350 S. Figueroa St., which will be re-branded as Sky Castle. The 400,000-square-foot office complex will be converted into 512 affordable units with a mix of floor plans. Construction is scheduled to begin in August.

The first phase will convert the building’s concourse levels into 241 apartments for households earning 30% to 80% of the area’s median income. A second phase will renovate the office tower into another 271 units. The project has been approved by the city under Los Angeles’ new adaptive reuse ordinance and has received support from city officials.

These are some of the reasons why the Kennedy Wilson-Jamison partnership was selected to receive ApartmentBuildings.com’s AB 100 Transaction of the Year Award, which recognizes those who demonstrate creativity, skill and success in the multifamily industry.

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