The much-troubled Lincoln Place apartment complex in Venice is officially back, baby--developer Aimco has announced it has financing and now "will finally begin remodeling after years of legal battles with the city," reports Venice Patch. Lincoln Place is enormous (795 units)--it was built in 1951 and designed by Ralph Vaughn in the Garden City model (community-style living and lots of green space), but it's been more or less empty since 1993. A few years back Aimco was found to have illegally evicted tenants and in 2010 a deal was finally struck to bring some old tenants back and put the other below-market-rate rentals back on the market--now they've fixed up 65 units and 50 have been leased out to returning tenants.
Now Aimco plans to do reno work on 631 units in the existing 41 buildings and to build another 13 new buildngs over the next two years. They'll also add a "5,000-square-foot leasing center and a 6,100-square-foot fitness center and pool." Units should cost about $2,500 per month. Work is scheduled to be finished up by the end of 2014.
· Developer To Kickstart Lincoln Place Apartment Redevelopment [Venice Patch]
· Lincoln Place Archives [Curbed LA]