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Real Estate/Development

Feb. 23, 2012

Compton Senior Center

Structuring a deal for the construction of a senior activity center and parking structure in an uncertain political climate


With the threat of the dismantling of California's redevelopment agencies looming, Michael J. Kiely had to devise a creative solution to salvage a much-needed project for seniors.


His client, Lowe Enterprises Real Estate West, initially was engaged by the Compton Redevelopment Agency to build a senior activity center, community center and 333-car parking structure, a deal valued at approximately $65 million.


Kiely said the construction cost was to b...

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