Part One

An historic agreement has  ended  years of litigation over the fate of the historic Venice apartment complex.

On August 11 and 12, 2009 Aimco Venezia LLC (“Aimco”) agreed to a settlement with former tenants of Lincoln Place that will provide for the preservation of the exteriors of the existing “historic eligible” buildings and return the property to rental housing use. One very important term of the Settlement is that AIMCO will make up to 83 units available for the settling tenants to return to the property. The agreement also anticipates retaining the existing apartment buildings and limiting new construction to the replacement of 99 units that previously existed on lots that are now vacant. No height or density variances will be requested in connection with that construction, which will return the complex to its  original size of 795 homes.

The agreement also settles all outstanding litigation between AIMCO and former tenants. While the agreement will be final after signature by all former tenants participating in the settlement and after judicial approval, it remains contingent upon a separate agreement between AIMCO and the City of Los Angeles and agreement among the settling tenant groups.  Currently, those parties are attempting to resolve all outstanding legal issues.  City approval will be required to proceed with the renovation and development of the property.

Aimco also recently executed a settlement agreement with historic preservationist Amanda Seward and 20th Century Architectural Alliance, which spearheaded the drive to obtain historic protection for Lincoln Place.

“This is a victory for all sides,” said Sheila Bernard, President of the Lincoln Place Tenants Association. “The settlement allows members of our close-knit community to return, preserves the buildings which we love, and charts a positive future for Lincoln Place.”

The buildings together with their character defining features that were constructed in the 1950s will be preserved. “The preservation of this garden style apartment complex is a unique opportunity for Los Angeles” commented Amanda Seward, the applicant for historic designation of the property. “Under the agreement, this complex would be preserved for future generations.”

“We are pleased to be moving forward and return much needed housing to the City of Los Angeles and the Venice community,” said Miles Cortez, Chief Administrative Officer of Aimco. “Clearly, collaboration with the former tenants, the city, and the community is far preferable to protracted litigation. We look forward to welcoming back residents and making much-needed improvements to Lincoln Place.”

“This is a great accomplishment and a win for everyone,” said Councilman Bill Rosendahl.  “I commend all parties for working very hard to agree to a future for Lincoln Place – a culmination of years of effort by my office, the City, residents, community leaders, historic interests and Aimco. I will press forward with the City’s efforts to complete our agreement so we can begin a new chapter for Lincoln Place.”

Editor’s Note: We have been covering this story since 1996, and, as the final pieces of this historic agreement are put in place,  we will continue our coverage –  until the whole extraordinary story is complete.