Small Lot Development Represents New Model of Homeownership in South Los Angeles

               Eight Energy-Efficient Townhomes Open near USC



    LOS ANGELES, Aug. 14 /EMWNews/ -- For more than twenty years, a

vacant lot stood on Leighton Avenue near Vermont Avenue and Martin Luther

King Jr. Boulevard. Today Enterprise Home Ownership Partners (EHOP) and

Councilmember Bernard C. Parks, Los Angeles City Council District 8,

celebrated the grand opening of eight energy-efficient, three bedroom,

for-sale townhomes located on the site.



    Under the City of Los Angeles Small Lot Subdivision Ordinance (No.

176354) approved in January 2005, EHOP plans to build similar style

energy-efficient townhomes in densely populated sectors of Los Angeles. For

the townhomes on Leighton Avenue, EHOP engaged long-time supporters

Councilmember Parks, the Los Angeles Community Redevelopment Agency, and

the City of Los Angeles Housing Department in a strong public-private

partnership to create this homeownership opportunity on the 10,562 square

foot lot.



    "Projects such as the Leighton townhomes are a welcome addition to the

Eighth District," said Councilmember Parks. "By building homes on this

formerly vacant property, we are creating a new tax-base and providing

people with homes that are good for the neighborhoods, good for the

environment and good for their families."



    Each home is three stories and approximately 1,350 square feet. The

townhomes start at $399,000 and feature three bedrooms, two baths and an

attached two-car garage. Centrally located to public transportation,

shopping and businesses, the townhomes are available to individuals and

families earning up to 150 percent of the area median income.



    Each environmentally sustainable home features a tankless water heater,

energy-efficient lighting, low-e windows, low-flow plumbing fixtures and

high efficiency toilets, Energy Star dishwashers, and roof-top photovoltaic

(solar electric) systems that will reduce utility costs. All townhomes also

have been pre-wired for security systems, have fire sprinkler systems, and

offer central heating and air-conditioning.



    "Our work through EHOP illustrates Enterprise's commitment to build

healthy, sustainable homes that people can afford in Los Angeles," said

Jeff Schaffer, Southern California Director of Enterprise Community

Partners, Inc. "The townhomes on Leighton Avenue, and the other townhomes

we have in development, are only made possible with the support from our

city officials and housing agency partners who have demonstrated a

commitment to building more affordable for-sale housing and addressing the

affordable housing needs in our great city."



    EHOP is a supporting organization of Enterprise Community Partners.

Since its inception in 2000, EHOP has rehabilitated and sold more than 500

single and multi-family affordable units in the City of Los Angeles,

through the HUD Asset Control Area (ACA) program. Through the Small Lot

Subdivision Ordinance EHOP currently has three additional small lot

properties under construction, which are creating twelve additional new

townhomes in the area.



    "Sustainable urban and energy-efficient design fits CRA/LA's vision of

creating healthy, livable neighborhoods," said Cecilia V. Estolano, Chief

Executive Officer of CRA/LA. "We are proud to have helped to provide

workforce, middle income sustainable housing in one of our redevelopment

project areas."



    "The Los Angeles Housing Department is proud to partner with EHOP in

their development of the Leighton Townhomes and continued success providing

affordable homeownership opportunities to low and moderate-income

households in Los Angeles," said Doug Swoger, director of Homeownership and

Preservation, Los Angeles Housing Department.



    Enterprise's Green Communities(R) initiative provided EHOP with a grant

for installation of energy-sustainable features in the townhomes, and the

South Coast Air Quality Management District provided more than $1 million

for the installation of photovoltaic (solar) electrical systems for this

and other developments throughout the city.



    Enterprise is a leading provider of the development capital and

expertise it takes to create decent, affordable homes and rebuild

communities. For more than 25 years, Enterprise has pioneered neighborhood

solutions through public- private partnerships with financial institutions,

governments, community organizations and others that share our vision.

Enterprise has raised and invested more than $9 billion in equity, grants

and loans to help build or preserve more than 240,000 affordable rental and

for-sale homes to create vital communities. Enterprise is currently

investing in communities at a rate of $1 billion a year. Visit

http://www.enterprisecommunity.org and http://www.enterprisecommunity.com to learn more

about Enterprise's efforts to build communities and opportunity.