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| February 16, 2011 |
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COMMUNITY DYNAMICS WINS
DEVELOPMENT AGREEMENT IN CARSON
CARSON, CA – Following 16 months of exclusive negotiations, the Carson Redevelopment Agency entered into a development agreement with a joint venture of Community Dynamics and Los Angeles based CityView for the delivery of a 10 acre mixed use community. |
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It will feature more than 13,000 square feet of ground floor retail, and 152 stacked flat, townhome and single family detached dwellings which will sell at an estimated completed value in excess of $60 million.
"The Company appreciates the opportunity to team up with the City of Carson to further its vision for a dynamic, walkable mixed use district corridor along Carson Street, and to contribute to the development of an exciting downtown retail environment adjacent to the Carson Civic Center", said Josh Freeman, the company's spokesperson.
"We believe that the housing market has bottomed, and now is the time to commit to the creation of a sustainable ownership community that offers prospective buyers affordable pricing, a brief commute to the workplace, and a pleasant walk to the local grocery store and some of their favorite restaurants."
The Company expects to complete the planning phase and begin construction in the first quarter of 2012.
Since its founding in 2003, the Company's investor partner, CityView, has capitalized the development of more than 7,000 homes nationwide affordable to workforce families. The venture's design team includes KTGY Architectural Group, winner of the 2008 PCBC Gold Nugget Award for the Pacific Region's outstanding mixed use community, TGP Landscape Architects and AEC Civil Engineering.
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