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California Workforce Housing Program Snags High-End Apartment, Plans To Preserve Rents for Middle-Income Workers

The State Agency Closed One of Monrovia’s Priciest Apartment Sales of the Decade
The exterior of the MODA at Monrovia Station in Los Angeles. (CoStar)
The exterior of the MODA at Monrovia Station in Los Angeles. (CoStar)

The private development firm alongside a California state agency that finances affordable housing projects acquired a high-end apartment building in Los Angeles County that they expect to use to cater to middle-income renters amid the state’s ongoing effort to increase its affordable housing.

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