Mixed-Use Rising at 5365 South Crenshaw Boulevard, Hyde Park, Los Angeles

A new mixed-use project is under construction taking shape and form at 5365 South Crenshaw Boulevard in Hyde Park, Los Angeles. The project proposal includes the construction of a new six-story building offering spaces for residential and commercial uses. The project replaced a commercial building on the site.

Praxis Development Group and the Clark family are listed as the developers. KFA Architecture is responsible for the designs.

5365 South Crenshaw Boulevard View via KFA Architecture

The scope of work includes the construction of a new six-story building offering 48 units and commercial space. Named The Clark on 54th, the mixed-use will bring 48 units designed as a mix of studios, one-bedroom, two-bedroom, and three-bedroom floor plans. Roughly 2,100 square feet of ground-floor commercial space will also be developed within the property. Plans also call for 28 parking stalls in a semi-subterranean garage.

Renderings reveal a modern facade designed in stucco and capped by rooftop amenity decks.

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.

The project construction cost is estimated at $24 million. Funding for the project came through equity investment from MSquared and Six Peak Capital, as well as a construction loan from the Local Initiatives Support Coalition (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.

Residents and tenants at the mixed-use apartment complex will be located near the K Line’s Hyde Park Station. Completion of the project is expected in 2026.

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