Executive Summary

The Neema Group is pleased to present an affordable housing development opportunity at 4303-4313 W Pico Blvd, located between Crenshaw Blvd and S La Brea Ave in Mid City. The 16,514 SF lot will be delivered fully entitled for 152 income-restricted housing units.
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The project’s central location and proximity to major employment hubs are prime for a high velocity workforce housing lease up strategy, allowing a mission driven developer the opportunity to support the missing middle segment given the project’s discount to surrounding market rents.
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Plans call for an efficient six story mid-rise project, utilizing Type III over Type I construction for a fully stacked design aimed at reducing construction costs. The existing two retails structures will be delivered vacant at the close of escrow, allowing a developer to break ground immediately, without navigating the planning process or taking on additional risk through pending ordinances that are limiting the development of similar high density affordable projects.
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The finished project totals 58,941 SF and has a desirable unit mix of 81 singles and 71 one-bedrooms. The project also offers 7,747 SF of open space for recreation or supportive services, including a courtyard, rear yard, and roof garden with panoramic views of the surrounding cityscape.