VF Developments, LLC, a minority and female-owned company, has announced the completion of renovations at 920 Everett Street, a multifamily property in the Victor Heights neighborhood near Chinatown in Los Angeles, California. This project introduces modern two- and three-bedroom apartments to a highly desirable area, featuring spacious floor plans with upgraded kitchens, bathrooms, and in-unit washer and dryers. The renovations were led by Victoria Vu, a renowned designer and Managing Partner of VF Developments, ensuring high-end finishes and stunning views of the Downtown Los Angeles skyline.
The property's location in the Greater Echo Park Elysian neighborhood offers a Walk Score of 87 out of 100, making it an attractive option for those seeking modern living spaces in an urban setting. James Kemple, general contractor for VF Developments, emphasized the company's commitment to community improvement by employing locally based minority vendors, employees, and contractors for the renovations. This approach not only created jobs in the Chinatown area but also contributed to the community's enhancement and the provision of more affordable housing.
Enhancements to the property include a new wood exterior façade, fresh paint, landscaping with bright white rocks and succulents, and completely restored interior finishes. The project also plans to build an accessory dwelling unit (ADU) in the large parking area to offer additional affordable housing options. Victoria Vu expressed excitement about the market's response to the property, highlighting the company's goal of enhancing communities and creating modern living spaces for residents.
This renovation is part of VF Developments' larger portfolio, which includes over $69 million in multifamily properties acquired since 2015, focusing on providing Class A building design finishes at accessible and affordable market rents in gentrifying areas of Los Angeles and Orange County. The completion of 920 Everett Street represents a significant addition to the local housing market, demonstrating the potential for private companies to contribute to community development and address housing needs through thoughtful renovation and repositioning of existing properties.
