Sunday, February 17, 2008

“Socially reponsible” California real estate company buys apartment building in Dallas

By Pegasus News wire

Learning Links Centers (LLC), a socially-responsible Southern California-based real estate investment company, has expanded its concept of "Socially Responsible Entrepreneurship" to Dallas with the purchase of a 71-unit apartment complex at 14000 Maham Road.

Through its expertise in the real estate business, LLC acquires, refurbishes, and manages apartment buildings in targeted neighborhoods, setting aside a percentage of the residential units for accredited school teachers. Additionally, they renovate one unit in the development to serve as a "Resource Room", equipped with computers, internet service, educational software, and books and games. In exchange for a reduction in rent, school teachers tutor the children that reside in the building a few hours a day, four days a week. The resource rooms offer a safe environment away from negative influences, where the children can study without distractions.

In addition, the program works with local bank representatives to open savings accounts for the kids, to educate them on basic money management and life skills.

"Our program has been tremendously successful in Los Angeles and when we researched other opportunities, we felt Dallas was among the top areas that offered a promising investment potential and due to our business and personal contacts in the DFW Metroplex, the expansion into this market was a natural progression," said LLC/EAF co-founder Joe Killinger. "The Resource Room is an excellent and conveniently located place for kids in a wide variety of grades to get one-on-one personal attention outside of the school."

"This marks our first purchase in Dallas and we have a plan to acquire additional assets in the greater DFW Metroplex with a long term goal of acquiring properties in other states. I would like to see LLC acquire 600-1000 units within the next year, to keep the program growing steadily," said LLC co-founder George Pino. "Based on the results we've seen in Los Angeles, we anticipate that the program will not only help the kids that live in the buildings, we believe the program brings a stabilizing factor into the community as well."

LLC is in the process of staffing the Maham complex with teachers and organizing donations of computers and books for The Resource Room. The grand opening is expected to take place early spring 2008.

The owners of LLC have also created a non-profit to oversee the Resource Rooms, Education Advantage Foundation (EAF). Working In conjunction with LLC, EAF organizes, promotes and oversees the afterschool programs as well as "Life Enrichment" events for the children involved in the program. EAF's goal is to promote higher education by providing scholarships and no-cost after-school mentoring and tutoring programs to students.

LLC currently owns and operates five buildings in Baldwin Village, California. Through the added incentive of educational opportunities, the buildings become desirable destinations for renters, which minimizes vacancy, rental default and vandalism rates, thereby helping to improve community standards. Students participating in LLC/EAF programs range from kindergarten to the 12th grade.

Additional information on Learning Links Centers(R) and Education Advantage Foundation can be found here and here.

Posted by T.G.

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• Real Estate > Residential
• Higher Education

Comments

Scott Doyle Verified

Since nobody else seemed to think this was interesting enough to comment on...

Honestly, when I read the term "Socially Responsible Entrepreneurship", the first word that came to mind was "hippies". And it's not necessarily out of mind after the fact, but this seems like a really great idea.

In the least condescending manner possible, I'm wondering whether the Resource Room and time teachers spend in there have anything to do with teaching english? Considering all the immigration discussion and the fact that our state's education is of the worst in the country, seems like that would be a priority for after-school activity. Especially with the heavy asian pop at Spring Valley between Coit and 75 (that's strictly personal observance, someone correct me if I'm wrong).

7 months, 3 weeks ago ( Link to this comment | Suggest removal )