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

Kennedy Wilson and Jamison said Tuesday they had 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 conversion 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.

“This strategic partnership between Jamison and our Vintage Housing platform is all about providing much-needed affordable housing in our backyard, the City of Los Angeles,” said Nicholas Bridges, global head of capital markets at Kennedy Wilson. “Together, Kennedy Wilson and Jamison are committed to delivering housing solutions that address the city’s affordability challenges while creating a lasting, positive impact for Los Angeles communities.”