CIM Group Opens 168-Unit Coro Apartment Community in Los Angeles
Event summary
- CIM Group completed Coro, a 168-unit apartment community in Los Angeles' West Adams neighborhood, featuring 40,000 sq. ft. of retail space.
- The project includes 17 affordable units for households earning ≤30% of the Area Median Income.
- CIM acquired the 1.3-acre property in 2023 from West Angeles Church of God in Christ.
- Coro is located in a Qualified Opportunity Zone, where CIM has been active for over 20 years.
The big picture
CIM Group's completion of Coro underscores its long-term strategy of transforming underutilized urban land into mixed-use developments. The project aligns with broader trends in multifamily housing, where developers are increasingly integrating affordability and community-focused amenities. CIM's 20-year relationship with West Angeles Church of God in Christ highlights its ability to navigate complex land acquisitions and deliver large-scale developments in high-demand neighborhoods.
What we're watching
- Affordable Housing Impact
- How the inclusion of 17 affordable units will influence Coro's occupancy and market positioning.
- Opportunity Zone Strategy
- Whether CIM's long-term focus on Opportunity Zones will drive further development in underserved areas.
- Retail Leasing Dynamics
- The pace at which CIM fills the 40,000 sq. ft. of ground-floor retail space in a competitive market.
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