LA: Developers chosen to replace Watts’ Jordan Downs

Significant questions remain about how the project will be financed. The housing authority has about $15 million in federal housing replacement funds and has identified some other funding sources, but officials said many details must still be worked out. More than a third of the units would be reserved for families now living in the dilapidated two-story buildings, many of whom pay little rent and have lived in public housing for generations. But officials also envision selling several hundred units at market rate, and hope to make the new community inviting to retailers and more affluent residents. Significant questions remain about how the project will be financed. The housing authority has about $15 million in federal housing replacement funds and has identified some other funding sources, but officials said many details must still be worked out.

- LA Times

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