Innovated Housing Opportunities Breaks Ground in Anaheim
Santa Ana-based Innovated Housing Opportunities broke ground last week on a 47-unit residential project for low-income seniors and transitional age youth.
The project would be built as part of Anaheim’s Beach Boulevard renovation.
Lincoln Beach, as the project is called, is proposed as a 28,327-square-foot housing project at 208 S. Beach Blvd. Most of the project would cater to low-income seniors, but 10% of the apartments would be set aside for youth transitioning out of foster care.
Construction is slated to run now through the third quarter of 2026. The development would also include “The Launch Pad,” an existing gas station that would be renovated as a small business incubator venue.
Lincoln Beach is part of a larger mixed-income development at 208 S. Beach Blvd., including 60 market rate and moderate-income townhomes for sale. Construction of the townhomes, to be developed by Brandywine Homes, is slated to begin later this year.
Anaheim’s Rebuild Beach Initiative aims to transform a 1.5-mile stretch of Beach Boulevard into a walkable thoroughfare with new homes, businesses and public spaces. The initiative launched in 2021 and targeted motels and other blighted buildings for demolition.
Innovative Housing Opportunities, founded in 1976, developed El Dorado, a 54-unit, three-story property for low income and formerly homeless seniors, and Rockwood, a 70-unit property dedicated to low income and former homeless families.
Lincoln Beach was financed by the city of Anaheim, Anaheim Housing Authority, California Tax Credit Allocation Committee, Housing and Urban Development, RBC Capital Markets and City National Bank.
TPG Angelo Gordon, Cypress West Partners Create JV
Rancho Santa Margarita-based Cypress West Partners announced last week it created a joint venture with Dallas-based TPG Angelo Gordon to buy two medical outpatient centers.
One of those buildings is La Cholla Medical Plaza, a two-building, 68,000-square-foot campus at 6130 N. La Cholla Blvd. in Tucson, Arizona.
The other property is MacFarlane Medical Center, a three-floor, 39,279-square-foot medical outpatient building at 835 W. Warm Springs Road, Las Vegas, Nevada.
Cypress West and TPG Angelo Gordon created their joint venture in 2024 to buy medical office properties in high-growth Sunbelt and West Coast markets.
