A Los Angeles County housing project is moving closer to groundbreaking after its developer landed an eight-figure construction loan. Azusa-based developer The Connected Companies secured $26 million in construction financing for Prospect Villa, a seven-story, 75-unit mixed-use development planned for 7539 and 7545 Garvey Avenue in Rosemead, Commercial Observer reported. Columbia Bank provided the loan, Kevin Wong of Quantum Capital Partners, which arranged the financing, confirmed to CO. The parcel is owned by Del Mar Property, an entity managed by local developer Gerard Ngo. When complete, Prospect Villa will deliver 75 one-, two-, three- and four-bedroom apartments atop roughly 6,350 […]
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