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Welcome back to the Real Estate newsletter. For any newcomers, this weekly rundown of stories brings together the best of The Times’ housing coverage: the biggest deals, the coolest homes and the information you need to navigate Southern California’s wild real estate market.
Surprises kept coming this week as the pandemic market drew a new batch of sellers, including a rapper, a DJ and USC. After four decades of Trojan presidents residing in the famed Seeley Mudd estate in San Marino, the school is selling it off as a cost-cutting measure.
Workers in the entertainment industry have a reason to celebrate, as the Actors Fund broke ground on a $120-million affordable housing project that will bring 151 units of affordable housing to Hollywood by 2024.
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The complex is expected to be completed by 2024. (Rendering courtesy of David Engleman)
HOLLYWOOD, CA The Actors Fund Thursday broke ground on the forthcoming Hollywood Arts Collective, which seeks to be a communal living and working space for aspiring artists. The $120 million facility will include 151 affordable housing units for artists, along with art galleries, rehearsal studios, and non-profit office space.
The development will also include an 86-seat Glorya Kaufman Theater, named after the philanthropist who has also funded arts programs at USC, UCLA and the Julliard School. The Actors Fund expects the project to be open and in operation by 2024.