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Nipsey Hussle’s partners are raising Opportunity Zone fund, but authorities raise questions about his property

Nipsey Hussle and his property at 3420 West Slauson Avenue (Credit: Getty Images, Google Maps, Wikipedia, Pixabay)

Nipsey Hussle and his property at 3420 West Slauson Avenue (Credit: Getty Images, Google Maps, Wikipedia, Pixabay)

After rapper Nipsey Hussle was shot and killed, Los Angeles celebrated him as a hero and his business partners launched an Opportunity Zone fund to spark development and investment in South Los Angeles.

But even though the police chief called him a peacemaker, the police department and the city attorney’s office are investigating Hussle, his property at the corner of Crenshaw Boulevard and Slauson Avenue and his business associates to determine whether his strip mall was a hub for gang activity, the New York Times reported. As the investigation continues, it remains unknown if officials will act against Hussle’s former business partners.

Before he owned the strip mall, the city had been pressuring Hussle’s former landlords to evict him and his associates, and they were given a 30-day notice to leave. Instead, earlier this year, the landlords sold the property to Hussle and investors for $2.5 million.

Hussle had plans to build new apartments and invest more after he learned about the benefits of developing in Opportunity Zones.

“I think everybody in the community will do everything we can to make sure the ventures he started will continue,” said City Councilman Marqueece Harris-Dawson, who represents South Los Angeles. “And this is a very confusing hiccup in this process.” [NYT] — Gregory Cornfield

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  • 16 July 2019
  • The Real Deal
  • Uncategorized
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