Real Estate Projects ELACC Real Estate Completed Projects Lorena Terrace - Construction is 100% complete. 49 multi-family apartments and childcare center are fully operational. Closing date is scheduled for August 1, 2008. Las Flores- 25 multi-family rental units in East LA, 12 units are special needs units, with a childcare center for 25 children and a community room. Project is 100% complete. Kern Villa - Property was purchased on March 3, 2005 and rehabilitation has begun. 49 multi-family rental units, Section 8-based. Construction complete; currently 1 vacancy. Las Casitas- Construction is 100% complete. Opened in November, 2005 (39 detached condos); over 50% of units sold. Playground - 5 multi-family units are complete and fully operational. ELACC Real Estate Active Projects Las Margaritas - Las Margaritas is a scattered site development that includes the rehabilitation of a 16-unit building at 115 N. Soto Street, the new construction of 20 units at 137 N. Soto Street and the rehabilitation of three duplexes at 319 N. Cummings Street. This project is in predevelopment. Cuatro Vientos - 25 unit new construction affordable multifamily housing development located in the El Sereno area. The project will also include an accessible roof top area, a children’s play area, a community room, and an energy efficient design. This project is in predevelopment. Boyle Hotel - A mixed-use residential and commercial project that combines 51-units of quality affordable housing with open space for a commercial area. This project is in predevelopment. Beswick – The property was purchased during the end of spring of 2007. Beswick consists of 16 single family lots currently under predevelopment. ELACC wishes to implement the City of Los Angeles’ Small Lot Ordinance which would allow to build up to 25 single family homes available to low income first time homebuyers.