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The Olson Company Partners with County of Los Angeles to Provide Unique Affordable Housing Solution

October 5th, 2017

On Monday October 2nd The Olson Company broke ground on Magnolia Walk, the most recent addition to our community pipeline. The ceremony celebrated yet another example of Olson partnering with municipal adjacencies to enhance communities and provide solutions for fighting blight and providing affordable homeownership. Magnolia walk will provide 94 new single family detached homes, 30 of which will be Affordable units for qualified households earning incomes at low and moderate levels. The Olson Company is honored to have been selected as LA County’s partner in supplying this kind of new homeownership product at a time when it is so desperately needed in Los Angeles County.

Magnolia Walk will be constructed on the currently vacant 9.5 acre former redevelopment agency site located at the corner of Salinas and 131st Avenue in the unincorporated South Los Angeles Willowbrook neighborhood. The Los Angeles County Community Development Commission and the office of County Supervisor Mark Ridley Thomas selected Olson to purchase and develop the site approximately 2 years ago. Since then, Olson and the County have worked tirelessly to transform this blighted vacant lot into a beautiful new community. This groundbreaking marks the latest exciting milestone as that vision moves closer to full realization.

The dream of homeownership has become increasingly challenging in Los Angeles County, but with the start of Magnolia Walk that dream, unattainable to most, will now be within grasp for dozens of low income households. While the majority of current affordable housing supply in the Los Angeles area is made of rental units, Magnolia Walk offers a rare affordable for-sale option. As opposed to rental units, the single family detached homes at Magnolia Walk will provide affordable home ownership opportunities in a walk-able neighborhood and will serve to provide homeowners a direct investment in their community, leading to vested interest in its future success.

In addition to affordability, Magnolia Walk is also set to spark economic stimulus in the area through the Local Worker Hiring Program. The Olson Company and Supervisor Thomas hope to utilize local residents for the construction of the project. Local contractors and construction professionals are encouraged to apply for the Local Worker Hiring Program at www.pvjobs.org.

Aside from Magnolia Walk’s homes themselves, the location is also sure to be a defining element to the community’s success. Located conveniently to the 110 and 105 freeways and LA Metro, the community will benefit from direct access to regional employment centers including Downtown Los Angeles, South Bay and beyond. The adjacent enterprise park puts 10 acres of paths, open space and recreation facilities, a wide array of children’s recreation programs within direct reach of community residents. All of which will be accessible to community members and the greater neighborhood via an entry pathway installed through the Magnolia Walk community. In addition, a proposed $45 million Renovation of the Earvin “Magic” Johnson Park, just one block north of Magnolia Walk, is set to begin in 2018.

The Olson Company has a long and successful track record of partnering with local governments to provide residents with quality homes in desirable locations, and Olson stands with its communities for the years to come. Earlier this year Olson was honored for the second year in a row by the Eliant Homebuyer’s Choice Awards as the top ranked homebuilder for “The Overall Purchase and Ownership Experience.” Magnolia Walk will be another opportunity for The Olson Company to not only deliver at its high standards, but to also help in the fight against one of the region’s greatest challenges, housing affordability.