GTO Hampton purchased a one-acre industrial site and has built 49 live-work condominiums with ancillary retail space in four structures.  The site was formerly an underutilized movie production facility that was unsightly and blighted. This niche product, artist-in-residence housing, requires that only qualified buyers ("qualified" means that buyers must have a City of Los Angeles business license) can live on the project thereby ensuring the identity of Venice as an artist's community. The Fund exited this investment in mid 2003.