CIM Group announced they have acquired an approximately 1.3-acre property at 3045 Crenshaw Blvd. which is entitled for a mixed-use development consisting of 168 apartment units, of which 17 will be affordable, and 40,000 square feet of ground floor retail.
The property, located just north of Jefferson Boulevard, is centrally located in Los Angeles and part of the historic West Adams neighborhood which offers dining, entertainment and community-serving retail and services. Future residents will have easy access to the Metro E Line light rail station on Crenshaw Boulevard that provides a connection east to Downtown Los Angeles and west to Santa Monica. In addition to its location on Crenshaw Boulevard, which is a major north/south thoroughfare, it also is near several east/west connectors including the Interstate 10 Freeway, Exposition Boulevard, and West Adams Boulevard.
New development at the site will replace the vacant, former West Angeles Church of God in Christ which now serves the community and congregants from an expansive cathedral at Crenshaw and Exposition Boulevards. After 43 years at its north campus location, West Angeles Church is consolidating facilities at its south campus location at Crenshaw and Exposition.
Commencing almost 20 years ago, CIM Group Principal Shaul Kuba and Bishop Charles E. Blake Sr. forged a relationship to bring positive change and new development to a portion of Crenshaw Boulevard, between Jefferson and West Adams Boulevards. In a series of acquisitions of church-owned properties executed over many years, CIM Group has delivered a variety of developments that created good jobs and attracted businesses to South Los Angeles that have improved the quality of life in the area.
The latest land sale is part of the church’s long-planned property dispositions announced in 2019 to bring new community serving developments to the neighborhood and with proceeds supporting church programs including construction of The Family Life Center. The Family Life Center is a community-serving, multi-use building, which includes a chapel, banquet/fellowship hall, classrooms, media center, counseling center, floor for youth and kids and administrative offices, which will open by the end of the year.
For more than 25 years, CIM Group has applied its community-focused investing approach by utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout the Americas.