East Hollywood, CA – (December 21, 2020) — California-based Bolour Associates Inc. (BOLOUR), a privately-owned real estate investment, development and finance company, continues to lend during the COVID-19 pandemic, providing a $3.6 million land loan for the purchase of an approximately three-quarter-acre site in Los Angeles’ East Hollywood. The loan provides the borrower time to entitle the site for 88 multifamily units and 9 condominiums. The request is being expedited through Los Angeles’ TOC program, which provides fast-track processing for projects meeting the required percentage of affordable housing.
A transit-oriented neighborhood, East Hollywood is attractive to students, young professionals and young families for its walkability and vibrance, including a dynamic concentration of restaurants, bars, shops and galleries, and close proximity to Los Angeles City College, Barnsdall Art Park and the Vermont/Santa Monica metro station. BOLOUR provided and closed the 12-month loan in under two weeks.