Abington Emerson Adds to its Portfolio of Opportunity Zone Investments

In Development

LOS ANGELES – August 20, 2018 – Abington Emerson acquired a property for a multi-family development project in the historic West Adams area of Los Angeles. Originally a single-family house that was R-2 zoned, the lot got rezoned to RD 1.5 because of its close proximity to the light-rail. The new zoning allows for construction of a 9- to 10-unit multi-family building, which Abington Emerson intends to develop.

“The property is very attractive from a development perspective, but also makes a great addition to Abington Emerson’s Opportunity Zone portfolio, which has been our main focus this year,” commented Omid Shokoufandeh, who is responsible for Abington Emerson’s acquisitions in the Los Angeles area.