Jamison Realty is pleased to present this prime development opportunity: approximately 14,746 square feet of C2-1-O zoned land situated near the high-traffic intersection of Crenshaw and Olympic Boulevards. This site offers a compelling value proposition for developers seeking to leverage the area's advantageous zoning and available incentive programs.
Key highlights include the property's eligibility for TOC Tier 3, the Mixed-Income Incentive Program (MIIP) T-2 / CTCAC Highest Resource designation, and the Affordable Housing Incentive Program (AHIP). To provide potential development concepts, we have included representative renderings of a planned 60-unit project located at 1047 Crenshaw, just south of the subject property. These renderings are intended for illustrative purposes only and should not be considered a representation of permitted development potential.
Additionally, the recently implemented City Housing Incentive Program (CHIP) may provide further development incentives, including potential increases to FAR and density. For developers considering a larger footprint, the seller also controls adjacent parcels to the north, which may be available for purchase. Interested parties are encouraged to contact us to discuss the potential for a combined site development.
A comprehensive offering memorandum, which includes additional property information, is attached for your review. We believe this offering represents a significant opportunity in the burgeoning Crenshaw Corridor. Please don't hesitate to contact us to discuss this opportunity further.