LOS ANGELES – January 15, 2020 – Abington Emerson Investments, LLC launched a Qualified Opportunity Zone Fund, AEI Expo OZ Fund LLC (the “Fund”) that will invest in a multi-family development project in the West Adams area of Los Angeles.
The Fund acquired three contiguous parcels to develop a multi-story apartment building on Exposition Blvd and Buckingham Road. The site has been up-zoned for high-density development allowing for up to 36 residential units. The property will consist of studios, one-, two- and three-bedroom apartments, with podium parking and roof-top amenities. The design will be versatile and modern to appeal to young, mobile, creative types which are setting up businesses and offices in the area.
The project is situated directly between the Farmdale and Crenshaw stations on the Expo Line and within steps to Highly Likely Café, a new micro-brewery and Crenshaw Crossing, the new master-planned residential and commercial development adjacent to the Crenshaw Expo station.
The area is centrally located between Downtown Los Angeles and the Westside and has been attracting new businesses and development since the new Expo Line light rail extension opened in 2016. It is expected to further benefit from the Crenshaw Line which will connect the Expo Line to a station near Los Angeles International Airport in 2021 and the Opportunity Zone designation the area received in 2018.
The Fund is currently accepting investors.