CIM Group has more development plans in the works for a single block of South Los Angeles.
The company wants to build a 364-unit apartment complex at 2211 South Western Avenue, which would rise next to another rental property it built, and a hotel project it’s planning.
The latest proposed construction is an eight-story development that would include 70,000 square feet of retail space, according to city planning documents.
Around 15 percent of the apartments — or just under 55 units — would be reserved for extremely low-income renters. The development would also include 500 parking spaces.
CIM’s new development would add to the 60-unit complex next door at 2231 South Western Avenue. Plans at the site include an 81-key hotel with around 6,000 square feet of retail space, a project that was approved three years ago.
Since 2015, CIM has been slowly assembling properties along that block. It paid $9.7 million for the land where it built the 60-unit project. The firm then bought two more parcels for around $2.5 million in 2018, records show.
Once completed, the combined development would be one of the South L.A.’s larger mixed-use complexes.
CIM has other projects planned for L.A. In West Adams, wants to build a 168-unit mixed-use complex, capitalizing on the city’s Transit Oriented Communities incentives. And in August, it proposed converting another portion of its Miracle Mile office campus into apartments.
CIM did not respond to a request for comment.
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