CIM Group Completes 47-Unit Apartment Project in Los Angeles’ West Adams, Utilizing Zoning Incentives

CIM Group has announced the completion of a new residential development in Los Angeles' West Adams neighborhood. The project, situated at 2535 Alsace Avenue, is a six-story building featuring 47 apartments. This development expands CIM Group's growing portfolio in the area, which also includes other nearby structures at 2599 Alsace, 5109 Adams, and 5217 Adams, indicating a sustained focus on the West Adams market.

To enable a larger structure than typically allowed by local zoning rules, CIM Group utilized specific development incentives. In exchange for these entitlements, four of the 47 new units are designated for very low-income households, contributing to the city's affordable housing stock. The building offers a blend of studio and one-bedroom apartments, along with resident amenities such as a rooftop deck. Approximately 400 square feet of office space is integrated on the ground floor, adding a mixed-use component to the property. For developers, this project exemplifies how strategic use of zoning incentives can facilitate increased density and unit counts, provided a portion of the housing addresses affordability requirements.