Fundrise, a financial technology company best known for providing loans to real estate developments, is getting in on the construction game.
Yesterday, an entity affiliated with the Washington, D.C.-based company filed plans with the City of Los Angeles to build multifamily housing a block north of Metro's Expo/Crenshaw Station. The proposed development would replace an auto repair shop with a multi-story structure containing 81 apartments.
Requested entitlements include Transit Oriented Communities incentives, for which the project would be required to set aside nine apartments for extremely low-income households.
A block south at Expo/Crenshaw Station, two properties owned by Metro and Los Angeles County are slated to be redeveloped into a mixed-use housing project called Crenshaw Crossing.
Elsewhere in Jefferson Park, construction is getting underway for a new office campus which will become the corporate headquarters of fast casual restaurant chain Sweetgreen.
- Jefferson Park (Urbanize LA)