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The Clark on 54th

Los Angeles, CA

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Project Basics

Location

Los Angeles, CA

MSQUARED ROLE

Investment

NUMBER OF UNITS

48

PROJECT TYPE

Mixed-income, Mixed-Use

Project Details

Location

Los Angeles, CA

PROJECT TYPE

Mixed-income, Mixed-Use

MSQUARED ROLE

Investment

NUMBER OF UNITS

48

Project Overview

The Clark on 54th is a 48-unit mixed-income, mixed-use, transit-oriented development project in the Crenshaw neighborhood of Los Angeles, CA. The ground-up project is being developed by a joint venture between a women-owned development firm, Praxis Development, and a minority-owned firm, Regenaissance LLC, and will include 10 deeply affordable units for households earning up to 50% AMI. The project is a partner of Destination Crenshaw, a transformative initiative spurring revitalization along the historically African American corridor, and will include 2,100 square feet of retail space for locally-based, diverse businesses. The Clark is located less than a quarter mile from the recently opened Hyde Park station on the LA Metro K line.

Crenshaw Website 2

Impact

Affordability

The Clark on 54th will deliver 10 units of deeply affordable housing units, affordable to households earning up to 50% of AMI.

Sustainability

The project will include energy-efficient appliances and electric vehicle charging stations. Only five minutes from the recently opened Hyde Park station on the LA Metro K Line, the transit-oriented project also helps to advance the City’s and LA Metro’s efforts to build 10,000 new homes near transit.

Diversity

The project sponsor is a joint venture between a minority-owned firm, Regenaissance LLC, and a women-owned development firm, Praxis Development. Regenaissance, a family-owned company whose principals grew up and lived in Crenshaw and who have owned the land since 1995. In collaboration with the ongoing Destination Crenshaw infrastructure initiative, locally based, diverse businesses will be focused on for leasing efforts of the project’s 2,100 square feet of retail space.

Go Further

On a Crenshaw Boulevard Corner, Old Gives Way to New, but It Stays in the Family

Construction Commences for Mixed-Use Project at 5365 S. Crenshaw Boulevard

Crenshaw Family and Praxis Development Break Ground on Mixed-Income LA Project

Partners

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