Located three blocks west of La Brea Avenue at 5170 W. Adams Boulevard, the project replaced a series of small commercial buildings with a new three-story edifice. The completed development will include 43 guest rooms above ground-floor retail space and basement parking for 31 vehicles.
City records indicate that NMDA designed the hotel, which is of a contemporary style and will feature a central courtyard and a rooftop deck. The nearly-finished product closely resembles the conceptual images included with the project's entitlement package.
According to a promotional website, the project's official name is the Alsace Hotel.
CIM Group has invested heavily in properties along Adams Boulevard, large segments of which were included in Federal qualified opportunity zones. Investments in these areas, which are considered to be "economically distressed" according to an IRS fact sheet, may be eligible for preferential tax treatment if certain conditions are met.
The company's projects in along Adams Boulevard, which include a variety of office buildings and apartment complexes, became a point of contention last year when after it announced plans to to purchase the Baldwin Hills Crenshaw Plaza shopping center. Activists who opposed the sale of the mall to CIM accused the developer of spurring gentrification in the West Adams community, and alleged that the company has ties to both Donald Trump and Jared Kushner.
CIM, after denying that it has any business partnership with the ex-president and his son-in-law, abandoned plans to purchase the mall in June 2020.
- 5170 W. Adams Boulevard (Urbanize LA)