C&C Development, in partnership with Riverside Charitable Corporation, announced the opening of Cartwright Family Apartments, a 60-unit affordable housing community on 1.6 acres at 17861 Cartwright Rd. in the Irvine Business Complex. The community is for households earning between 30% and 80% of the Orange County area median income (AMI), with a portion of units set aside for veterans.
Cartwright also includes a leasing preference for current Irvine residents or persons employed in the city. At its opening, Cartwright is 100% occupied.
For C&C Development, Cartwright is the firm’s second affordable community in Irvine. This latest development further supports Irvine policies that have made the city a model for diversity, inclusion, and housing access.
“This new community provides for a wide range of opportunities for families,” said Todd Cottle, principal, C&C Development. “We know how expensive housing can be, and by providing affordability, these individuals and families will benefit from Irvine amenities, including an outstanding school district. We hope Cartwright is a launch pad for their future.”
JLL Capital Markets arranged acquisition financing for Lightstone’s purchase of 323 W. 96th St., a 174-unit multifamily property on Manhattan’s Upper West Side. Senior managing director Peter Rotchford and managing director Michael Shmuely worked on behalf of Lightstone to secure the financing from MF1, a wholly owned subsidiary of Berkshire Residential Investments. Lightstone is acquiring...
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The National City Investment Group, a locally owned, privately held real estate investment company, recently broke ground on Market View, a 120-unit multifamily residential community located at 303 Highland Ave. in National City. The development will transform an underutilized parking lot adjacent to Manolo Farmers Market, which has served National City for more than 33...
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Levin Johnston of Marcus & Millichap recently completed the sale of First Street Manor, a 39-unit apartment community in San Jose. Executive managing directors Adam Levin and Robert Johnston, along with senior director, investments Cole Simpson, represented the seller and procured the buyer in the $9.112-million transaction. The Levin Johnston team demonstrated the asset’s upside...
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