Executive Summary

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The Neema Group is pleased to present an affordable housing development opportunity at 7301 S Broadway in South Los Angeles. The 6,434 SF lot is zoned C2- 1VL-CPIO and is RTI for 44 income-restricted units and 1 manager unit that is not restricted. The project is located just south of W Florence Ave, just off the 110 Freeway. The project is offered at a low $44,222 per buildable unit, with no tenant relocation or replacement units required. There is currently an existing 2,100 SF retail building that will be delivered vacant at the close of escrow.

Area Overview

METRO CRENSHAW/LAX LINE –TRANSIT PROJECT

The Metro Crenshaw/LAX Line will extend from the existing Metro Exposition Line at Crenshaw and Exposition Boulevards. The Line will travel 8.5 miles to the Metro Green Line and will serve the cities of Los Angeles, Inglewood and El Segundo; and portions of unincorporated Los Angeles County. The new Metro Rail extension will offer an alternative transportation option to congested roadways and provide significant environmental benefits, economic development and employment opportunities throughout Los Angeles County. Riders will be able to make easy connections within the entire Metro Rail system, municipal bus lines and other regional transportation services.

The Crenshaw/LAX Transit Project will serve the Crenshaw District, Inglewood, Westchester and surrounding area with eight stations. The Crenshaw/LAX Project is one of 12 transit projects funded by Measure R, the half-cent sales tax approved by Los Angeles County voters in 2008.

SOFI STADIUM

SoFi Stadium is a stadium and entertainment complex that opened in 2020 in under construction in Inglewood, California, United States. It is located at the former site of the Hollywood Park Racetrack, approximately 3 miles (4.8 km) from LAX, immediately southeast of The Forum.

The stadium serves as the home for the Los Angeles Rams and Los Angeles Chargers of the National Football League (NFL). It serves as the home of the LA Bowl. During the 2028 Summer Olympics, the stadium is expected to host the opening and closing ceremonies, soccer, and archery.

The new home for the Los Angeles Chargers and Rams will be the largest stadium in the NFL . Costing nearly $5 Billion ( $ 4.963 Billion), the 3 Million sq .Ft . stadium is set to be the largest stadium in the NFL and will be able to seat 70 ,240.

The NFL stadium is only one part of a larger plan . The area around the stadium, known as Hollywood Park, is also under construction and will include about 3 ,000 new residential units, 620 ,000 square feet of shops and restaurants, green space including a manmade lake, and lastly a revamped casino . The new Hollywood Park is expected to be completed in 2023.

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