In Hyde Park, a commercial building near the K Line has made way for the construction of a $24-million mixed-use apartment complex.

The Clark on 54th, a project from Praxis Development Group and the Clark family that has long owned the site at 5365 S. Crenshaw Boulevard, calls for the construction of a six-story building featuring 48 studio, one-, two-, and three-bedroom apartments above roughly 2,100 square feet of ground-floor commercial space. Plans also call for 28 parking stalls in a semi-subterranean garage.

View looking northeast from 54th StreetKFA Architecture

Project entitlements include density bonus incentives to permit a larger structure than otherwise allowed by zoning rules. In exchange, six of the new apartments would be set aside as deed-restricted affordable housing at the very low-income level.

KFA Architecture is designing the contemporary low-rise building, which would be clad in stucco and capped by rooftop amenity decks.

Construction of The Clark on 54th includes equity investment from MSquared and Six Peak Capital, as well as a construction loan from the Local Initiatives Support Corporation (LISC) and Black Economic Development Fund, with help from Genesis LA.LA4LA has provided grant funding for the project, while LISC LA is responsible for subordinate financing.

5365 S Crenshaw BoulevardGoogle Maps

“This project embodies the transformative potential of the Asset Building for Communities of Color (ABC) program, and we are proud to support it through this $500,000 recoverable grant,” said LISC LA executive director Nicole Williams in a statement. “The development at 5365 Crenshaw Blvd not only brings much-needed affordable housing units to the Crenshaw corridor but also serves as a model for inclusive community development. This project demonstrates how development can drive revitalization without displacement, offering long-time property owners a stake in their neighborhood’s growth. It’s about creating generational wealth, economic opportunity, and a brighter future for the Crenshaw community.”

Completion is expected in 2026.

The site sits directly across the intersection of 54th and Crenshaw from a $24-million senior affordable housing complex completed by Related California in 2019. Additionally, two similar mixed-use buildings are now under construction one block north at Crenshaw's intersection with 53rd Street.

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