Nike, Smart & Final Extra, Ross Dress for Less and Blink Fitness have all signed leases at Primestor Development’s Jordan Downs Plaza, a mixed-use project in Los Angeles’ Watts neighborhood.
The four retailers will occupy nearly 75 percent of the retail component of the $5 billion project.
Situated on 9.5 acres, the 113,000-square-foot asset is scheduled to be completed in Fall 2019. At full build-out, the property will also offer 1,400 residential units.
Financial backing for Jordan Downs is coming through the federal government through its New Market Tax Credit Program (which has allocations from Genesis LA, the California Statewide Communities Development Authority, the Los Angeles Development Fund and JP Morgan Chase) as well as the conveyance of property by ground lease from HUD and the Housing Authority of the City of Los Angeles.
The Jordan Downs Plaza is a public/private partnership and part of the Jordan Downs revitalization project in the South Los Angeles neighborhood of Watts. The revitalization project is a mixed-use, mixed-income redevelopment of a 1950s-era community that will maximize solar opportunities, energy efficiency, environmental sustainability, and include substantial community spaces.
The LADF allocated $10,000,000 in New Markets Tax Credits to help fund this project.
The four retailers will occupy nearly 75 percent of the retail component of the $5 billion project.
Situated on 9.5 acres, the 113,000-square-foot asset is scheduled to be completed in Fall 2019. At full build-out, the property will also offer 1,400 residential units.
Financial backing for Jordan Downs is coming through the federal government through its New Market Tax Credit Program (which has allocations from Genesis LA, the California Statewide Communities Development Authority, the Los Angeles Development Fund and JP Morgan Chase) as well as the conveyance of property by ground lease from HUD and the Housing Authority of the City of Los Angeles.
The Jordan Downs Plaza is a public/private partnership and part of the Jordan Downs revitalization project in the South Los Angeles neighborhood of Watts. The revitalization project is a mixed-use, mixed-income redevelopment of a 1950s-era community that will maximize solar opportunities, energy efficiency, environmental sustainability, and include substantial community spaces.
The LADF allocated $10,000,000 in New Markets Tax Credits to help fund this project.
25 March 2019
