Prolific affordable housing developer SoLa Impact has submitted plans to build a six-story transit-oriented community apartment project in West Adams.
The project will be constructed at 3501-3519 Crenshaw Avenue, on the site of an existing auto shop near the Expo/Crenshaw subway station.This is a part of South Los Angeles that is in the midst of a major transformation led by Shaul Kuba’s CIM Group, which is developing Dozens of properties in the area simultaneously. Other planned projects include a 90-unit development by Haroni Investments and a 21-unit complex by Decon.
SoLa Impact plans to build a 136-unit apartment complex that will also include 1,300 square feet of ground floor commercial space. Developer in South Los Angeles Known for its focus on affordable housing and socially oriented housing, but the project is primarily market-rate with 120 market-rate units and 15 affordable units that meet the requirements of Los Angeles’ TOC program, which provides housing with a certain density and Additional zoning incentive programs located near public transit. The project will also include an accessory dwelling unit, also known as an ADU or “grandmother’s unit”.
Renderings show a contemporary complex with some exterior balconies and a mostly white and gray exterior. An entity owned by SoLa Impact bought part of the site earlier this year for $7.5 million, according to property records.
The firm describes itself as “a family of social-impact real estate funds with a double-bottom-line strategy focused on preserving, renewing and creating high-quality affordable housing in low-income communities,” with a portfolio of more than 1,500 apartments across the South. Los Angeles also said it has another 1,500 projects in development.SoLa to raise at least $250 million by 2022 for affordable workforce projects in predominantly Black communities, including Paypal and Cal Teachers Pension Fund.
