CIM Group Taps L.A. Density Bonus for West Adams Apartments

Los Angeles-based developer CIM Group is looking to erect another mixed-use apartment complex in West Adams.

The firm, headquartered in Mid-Wilshire, submitted an application to the Los Angeles Department of City Planning seeking approvals for the construction of a mixed-use apartment complex at 5451 West Adams Boulevard, Urbanize Los Angeles reported.

The project, planned to take the place of Advance Food Market, would create a six-story building with 142 apartments above 8,000 square feet of ground-level retail and a 99-space parking garage. The building would span approximately 103,000 square feet and include studio, one- and three-bedroom apartments. The building would also have a podium-level terrace deck for residents.

CIM Group is requesting entitlements including density bonuses through Los Angeles’ housing incentive program, which allows larger developments than otherwise permitted at the site. The developer would set aside 13 apartments for extremely low-income individuals. In Los Angeles County, extremely low-income is generally defined as making 30 percent or less of the area median income, or $31,850 annually for one person.

The developer is no stranger to projects in West Adams. In recent years, CIM Group has worked to build apartments, offices, a hotel and a permanent flagship Los Angeles home for the Museum of Ice Cream along the commercial corridor.

CIM Group has tried to redevelop the site before. Prior to the city of Los Angeles adopting the density bonus incentive program, CIM planned to redevelop the location with a four-story residential building with 68 apartments. That version of the project would have included an adjacent property to the north and incorporated a nearly 17,000-square-foot Trader Joe’s on the ground floor.

In the past week, CIM Group has announced transactions across North America including the sale of two data centers in the Toronto area to Cologix and the closing of a loan to Certares Management and HRI Hospitality for the acquisition and renovation of hotels in New Orleans and Pennsylvania.

— Chris Malone Méndez