Capri’s $700M Baldwin Hills Crenshaw Plaza Redev Approved
Capri Investment Group secured Los Angeles Planning Commission approval to move forward on a $700-million redevelopment of Baldwin Hills Crenshaw Plaza in South Central Los Angeles. The Chicago-based real estate investment firm plans to expand and revitalize the 870,000-square-foot shopping mall, including adding a mix of uses next to a new Metro train station.
The proposed 43-acre project would add 961 condos and apartments, a new 400-room hotel, a 10-story office building, retail stores and restaurants in an open-air retail village. Additionally, Capri envisions expanding the plaza’s size to more than three million square feet.
The redevelopment could serve as a cornerstone to rejuvenate Crenshaw Boulevard, though the project must obtain final approval from the Los Angeles City Council. Capri has owned the urban mall since 2006 on behalf of institutional investors, and has worked to secure redevelopment entitlements for eight years.
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