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Los Angeles, CA - July 15, 2011 - (RealEstateRama) -- The Del Rey Square Senior Housing Project is a new affordable housing community at 11976 Culver Boulevard in West Los Angeles. The project will contain 124 units (4 studios, 119 one-bedroom units and 1 two-bedroom manager’s unit) that will be targeted to households earning 60% of AMI or less. 30 of these units will be public housing units targeting senior and disabled households. The project is unique in its location on the Westside of Los Angeles, which suffers from a severe lack of affordable housing.

Washington, DC - July 13, 2011 - (RealEstateRama) -- Today, the House Financial Services Committee approved legislation introduced by Rep. Ed Royce (R-CA), the "Housing Trust Fund Elimination Act." Royce’s legislation eliminates the Affordable Housing Trust Fund established in 2008 as part of the Housing and Economic Recovery Act.

WASHINGTON, DC - July 13, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced an agreement with Prospect Mortgage, LLC (Prospect) to settle allegations the California-based mortgage lender created sham affiliated business arrangements for the purpose of paying improper kickbacks or referral fees in violation of Federal Housing Administration (FHA) guidelines and the Real Estate Settlement Procedures Act (RESPA). Prospect agreed to dissolve these sham joint ventures and pay $3.1 million to resolve the complaint

Washington, DC - July 1 30, 2011 - (RealEstateRama) -- Senator Dianne Feinstein (D-Calif.) today announced that legislation to spend $35.5 million to address a severe shortage of housing options for homeless veterans in Los Angeles has passed committee and will advance to the full Senate

SACRAMENTO, CA - June 30, 2011 - (RealEstateRama) -- California housing production rose sharply in May and posted the highest monthly permit total for the year on the strength of the multifamily sector, the California Building Industry Association announced today.

ALISO VIEJO, CA - June 27, 2011 - (RealEstateRama) -- David L. Ball, president of Arnel Development Co. in Costa Mesa, Calif., has joined the board of directors for CT Realty Investors. Ball has nearly 30 years of commercial and residential real estate development and lending experience. As president of Arnel Development, a subsidiary of Arnel & Affiliates, Ball is responsible for overseeing all real estate investment and development activities, joint ventures and real estate-related banking relationships. A member of the Arnel management team since 1983, Ball has developed more than one million square feet of retail space, numerous apartment projects, hundreds of single-family homes, and nearly 500,000 square feet of office space. He has also engineered numerous investments involving land development and industrial parks on behalf of Arnel.

IRVINE, CA - June 27, 2011 - (RealEstateRama) -- Award-winning KTGY Group, Inc., Architecture + Planning, is pleased to announce that KTGY Principal Manny Gonzalez, AIA, LEED AP, CAASH, has been invited to be a featured speaker in an upcoming webinar presented by the National Association of Home Builders (NAHB) on July 6, from 2:00-3:00 p.m. EDT.

Camarillo, CA - June 24, 2011 - (RealEstateRama) -- Colliers International, the second largest global real estate services organization, recently directed the sale of a 38,014-square-foot industrial building located at 251 Camarillo Ranch Rd., Camarillo, Calif. to Zindagi Games, Inc. The sale was valued at approximately $3.8 million.

SACRAMENTO, CA - June 23, 2011 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced that Shalena P. Leggett, 37, of Vacaville, pleaded guilty today to two counts of wire fraud arising out of her embezzlement from her former employer, a local Sacramento real estate developer.

West Sacramento, CA - June 17, 2011 - (RealEstateRama) -- The State of California Department of Housing and Community Development (HCD) has awarded the City of West Sacramento $2,488,625 in federal Community Development Block Grant (CDBG) funding to provide public infrastructure in support of a new metals recycling facility proposed for the Port of West Sacramento.

La Jolla, CA. - June 15, 2011 - (RealEstateRama) -- The Bay Area housing market in May posted modest month-to-month gains in sales and median prices, but those same measures fell sharply from year-ago levels, which had been pumped up artificially by homebuyer tax credits. Move-up buying and new-home sales were especially weak last month, while the share of sales involving distressed properties, cash buyers and investors remained far above normal, a real estate information service reported.

LOS ANGELES, CA - June 14, 2011 - (RealEstateRama) -- Mayor Antonio Villaraigosa announced the appointment of four new commissioners to the Housing Authority of the City of Los Angeles (HACLA) Board of Commissioners: Isabel Ayala, Kimberly Freeman, Dennis Hernandez, and Mitchell Kamin.

IRVINE, CA - June 8, 2011 - (RealEstateRama) -- Award-winning KTGY Group, Inc., Architecture and Planning, is pleased to announce that KTGY’s Principal Manny Gonzalez, AIA, LEED AP and CAASH has been invited to participate in Building Industry Association (BIA) of Southern California 50+ Housing Council program, "'ABC' Demonstration Home - A Preview Before PCBC Debut," on Thursday, June 16, 2011. The new ABC Home, which was designed by Gonzalez, is an "Affordable, Buildable, Certified" Green home designed for Net-Zero energy use that incorporates Universal Design to accommodate people of all ages and capabilities. The first of three demonstration homes planned by Southern California Edison Company, the ABC home will be built in fall 2011.

IRVINE, CA - June 7, 2011 - (RealEstateRama) -- KTGY Group, Inc., Architecture + Planning, and some of this country's top builders/developers have earned nine Awards of Merit in the 2011 Gold Nugget Award design and planning competition. The awards honor the firm's wide range of capabilities, excellence and innovation in addressing complex design/build issues in attached, detached, sustainable communities, mixed-use, transit-oriented developments, and campus housing. The winning projects include: University of California, Irvine (UCI) East Campus Apartments Phase III; The Crossing at Anaheim in Anaheim, Calif.; Gallery 421 in downtown Long Beach, Calif.; Paragon at Old Town in Monrovia, Calif.; La Floresta in Brea, Calif.; 12th & Burnside in Portland, Ore.; and The Shell House in Nassau, Bahamas.

ALISO VIEJO, CA - June 3, 2011 - (RealEstateRama) -- Susan J. Barlow, chief executive officer of Newport Beach, Calif.-based Fiduciary Capital Inc., has been named to the board of directors for CT Realty Investors.

SACRAMENTO, CA - May 26, 2011 - (RealEstateRama) -- Total housing starts in California, as measured by the number of building permits issued, rose 2 percent in April, the California Building Industry Association announced today.

Washington, DC - May 26, 2011 - (RealEstateRama) -- Congresswoman Maxine Waters (D-Calif.), a senior member of the Financial Services Committee and a leading champion for homeowners, delivered the following remarks today during a Subcommittee on Housing, Insurance, and Community Opportunity Hearing on “Legislative Proposals to Determine the Future Role of FHA, RHS and GNMA in the Single-and Multi-Family Mortgage Markets.”

SACRAMENTO, CA - May 26, 2011 - (RealEstateRama) -- Overall housing affordability in California continued to increase in the first quarter of 2011, but half of the state’s 28 metropolitan areas included in the report showed decreases, the California Building Industry Association announced today.

LOS ANGELES, CA - May 24, 2011 - (RealEstateRama) -- A second man who was employed as an inspector with the City of Los Angeles Department of Building and Safety pleaded guilty this afternoon to federal bribery charges for taking thousands of dollars in bribes to approve work done at residential construction sites in South Los Angeles, even though the work had not been inspected.

RIVERSIDE, CA - May 24, 2011 - (RealEstateRama) -- Real Estate Mortgage Network, Inc. (REMN), a national mortgage lender based in River Edge, N.J., continues to grow its retail presence in California with the addition of a new branch in Riverside. Coming on the heels of the company’s recent addition in San Diego, this new office will better help REMN service the Inland Empire’s future and existing home owners, real estate professionals, as well as residential builders.