CIM Group Completes 47-Unit Apartment Project in West Adams, Los Angeles

CIM Group has announced the completion of a 47-unit apartment complex located at 2535 Alsace Avenue in the West Adams neighborhood of Los Angeles. The six-story building, known as 2535 Alsace, expands the developer's residential portfolio in the area. To permit a larger structure than standard zoning rules would typically allow, CIM Group utilized development incentives. In exchange for these entitlements, four of the new apartments have been set aside for very low-income households, contributing to the local affordable housing supply.

The project features a blend of studio and one-bedroom units, complemented by amenities such as a rooftop deck. Additionally, the ground floor incorporates approximately 400 square feet of office space, creating a mixed-use environment. This development is part of CIM Group's broader investment in West Adams, which includes an adjacent mixed-use building at 2599 Alsace and similar projects at 5109 Adams and 5217 Adams. The completion highlights how developers are using policy tools to achieve higher densities and integrate affordable housing components into new construction.