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Developer SoLa Impact has plans for a seven-story, 195-unit apartment project in a northern corner of the Park Mesa Heights neighborhood of South Los Angeles, according to plans filed with the city of Los Angeles earlier this month.
The project would replace four units and about 62,000 square feet of retail space spread across eight buildings with a new 80-foot-tall multifamily building containing 43 studio apartments, 111 one-bedrooms, 32 two-bedrooms, and nine live/work units, plans show. The new community would rise at 4605 – 4641 Crenshaw Boulevard.
The South LA developer would reserve 22 units for extremely low-income households. It is seeking several Tier-4 project incentives under the city’s Transit Oriented Communities Incentive Program, including an 80-percent density bonus.
Referred to as 4611 Crenshaw in planning documents, the newly proposed project is one of a number being led by SoLa Impact, which is a prolific developer of mixed-income housing and other projects throughout South Los Angeles. It frequently develops in Opportunity Zones, which are census tracts offering tax incentives to long-term investors under the 2017 Tax Cuts and Jobs Act. Like other planned developments of SoLa Impact, 4611 Crenshaw is in an Opportunity Zone.
The SoLa Impact affiliate leading 4611 Crenshaw was formed under the company’s $1 billion Black Impact Fund, which it launched in December to invest in minority communities.
Plans show the development will total about 212,000 square feet of new construction. Along with apartments, it would include about 15,500 square feet of common open space, including a communal parklet, a community room, two courtyards, and approximately 6,000 square feet of rooftop open space.
The project would provide 114 automobile parking spaces and 135 bicycle spaces, plans show.