A fully entitled 525-unit apartment project at 22107-22133 South Vermont Avenue in West Carson has sold for $40 million, transferring one of the area’s largest approved multifamily developments to a new owner.
A fully entitled multifamily development site in West Carson has traded ownership, marking a significant milestone for one of the largest housing approvals in the surrounding area. The property at 22107-22133 South Vermont Avenue was sold by CGI+ to JPI for $40 million, transferring control of a six-story residential project approved by Los Angeles County in 2022.
22107-22133 South Vermont Avenue Amenity Deck via AC Martin
The approved plans allow for 525 apartments to replace an existing warehouse complex along South Vermont Avenue. Entitlements permit construction of a density bonus project that includes 34 units reserved for households earning up to 30 percent of area median income, positioning the development as a major source of deeply affordable housing within the unincorporated community.
Designs prepared by AC Martin outline a large podium-style complex containing studio, one-, two-, and three-bedroom units. The project centers on an eight-story parking structure capped by an approximately 28,000-square-foot amenity deck, with plans calling for recreational and resident-serving spaces including a pool, fitness areas, and shared outdoor facilities.
The site lies within the West Carson Transit Oriented District Specific Plan, adopted in 2019 to encourage higher-density residential development near transit corridors and employment centers. Its location south of Harbor-UCLA Medical Center, which is undergoing a multi-year modernization effort, has helped drive interest in large-scale housing investment in the area.
The transaction reflects a broader trend of entitled residential sites changing hands as developers reassess timing and capital exposure amid elevated construction costs. CGI+ retained entitlement value while exiting the project, while JPI assumes responsibility for delivering one of the largest multifamily developments ever approved in West Carson.
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