December 9, 2019
Clearinghouse Community Development Financial Institution is set for a 31-unit multi-family development in LA’s Koreatown, a Qualified Opportunity Zone. The new development is located at 744 S. Mariposa Avenue and includes investments from two separate parties.
“Launching Opportunity Zone projects is another way to deploy capital into the communities that need it the most” said Doug Bystry, President and CEO of Clearinghouse CDFI. “We hope that the closing of this first project will attract other investors seeking to benefit from the tax relief program. We have a strong pipeline of great projects that qualify as Opportunity Zone eligible.”
The development will feature new studio and one-bedroom apartment units over two levels of parking.
The primary Opportunity Zone investment in the property was facilitated by APEX Pacific Partners Advisors, a private real estate company that invests in multi-family, office, retail and hotel assets and development opportunities.
For comments, questions or concerns, please contact Chris Egger