EADS was completed in December 2005 for a total development cost of $9.7 million dollars. The developer, New Economics for Women, partnered with Enterprise Social Investment Corporation to obtain tax credits to facilitate the rehabilitation of the building. The project’s lenders include the Los Angeles Housing Department, the Housing Authority of the County of Los Angeles, First Republic Bank, California Community Reinvestment Corporation, and Bank of America.
Once a dilapidated building overrun with gang activity, the EADS Apartments was considered a congested slum by the City of Los Angeles. NEW acquired and completely rehabilitated the apartments in 2005, rebuilding the cramped, undersized rooms into larger units that could safely and comfortably accommodate families. EADS is now a safe community where families can work towards their visions for prosperity.
- 36 single and multi-family residential apartment units over 41,630 square feet
- 7 one-bedroom units
- 18 two-bedroom units
- 10 three-bedroom units
- 1 four-bedroom unit
- 1,827 square feet of commercial leasing space