Developer scales up mixed-use project to capitalize on housing incentives
The transformation of West Adams from a low-density commercial strip into a vibrant mixed-use district continues to accelerate as developers navigate Los Angeles’ evolving housing policy landscape. CIM Group is demonstrating this evolution with its latest proposal for 5451 W. Adams Blvd. The company has filed plans with the Los Angeles Department of City Planning for a six-story, 142-unit apartment complex that would replace the existing Advance Food Market, according to a report from Urbanize. The 103,000-square-foot development represents a scaling up from CIM’s original vision for the site, which had called for a more modest 68-unit, four-story building.
This project expansion reflects the strategic opportunities created by the city’s housing incentive program, which allows developers to build larger projects in exchange for including affordable units. CIM’s current proposal would set aside 13 apartments for extremely low-income residents, enabling the company to maximize the site’s development potential under the program’s density bonuses. The architectural approach, designed by Kevin Tsai Architecture, emphasizes clean lines and geometric patterns typical of contemporary mid-rise construction. The building features a podium design with ground-level commercial space totaling more than 8,000 square feet, complemented by a 99-car parking garage. The unit mix spans from studios to three-bedroom apartments, with small balconies providing outdoor space for residents.
CIM’s shift in strategy for this particular site illustrates potentially broader changes in Los Angeles development economics. The original proposal had incorporated an adjacent property and featured plans for a nearly 17,000-square-foot Trader Joe’s as an anchor tenant. The current iteration focuses solely on the Advance Food Market parcel, suggesting different market calculations about retail demand and construction costs.
The 5451 W. Adams project’s timeline and construction schedule will depend on the city’s approval process, which involves review periods for environmental impact, design compatibility, and compliance with affordable housing requirements. Given CIM’s established presence in the area and familiarity with local development procedures, the company appears positioned to navigate these regulatory steps efficiently.
Recently, the West Adams corridor has been the focus for CIM Group’s mixed-use development strategy. The company has assembled a portfolio of projects in the area that includes not only residential buildings but also office space, hospitality venues and cultural attractions like the Museum of Ice Cream. Last year, CIM Group CIM Group opened a six-story apartment building at 2599 Alsace Ave. in the West Adams neighborhood. As previously reported by The Registry, 2599 Alsace offers 23 one- and two-bedroom residences in a modern living environment with a contemporary design and in-demand features such as wood-style flooring, kitchens with stone counters, stainless steel appliances and sleek cabinetry, in-unit washer and dryer, and select units offering walk-in closets and balconies.
According to its website, CIM Group is a seasoned real estate and infrastructure owner, operator, lender and developer with three decades of experience since its founding in 1994. The firm manages a portfolio of 386 assets across the Americas and Europe, supported by a workforce of over 1,000 employees. The company’s integrated approach spans acquisition, development and management, positioning it as a major player in urban transformation and real asset investment. With approximately $29.9 billion in assets owned and operated, the company is committed to “creating value for its clients and enhancing the communities in which it works.”
