{This special opportunity is a result of a Community Benefits Agreement (CBA) negotiated by United Neighbors in Defense Against Displacement (UNIDAD) Coalition.
CD Tech, RISE, Conaxion, and a host of other partners have been tasked with identifying a small business(es) to occupy retail space at The Lorenzo Apartment Complex (USC student luxury housing). Types of businesses preferred are retail and food-based projects.
NOVEMBER 30th DEADLINE
Here are some specifics:
Total retail square footage available: 27,367
Bottom floor for 3,500 residents
Directly adjacent to Metro Transit Line & LATTC
10-year market rate discounted lease: year 1-3, 50%; year 4-7, 25%; year 8-10, 10%
Market rate is currently $2.50 to $3 square foot
Applicants must have “fair” credit rating and no bankruptcies
Must be a privately-owned business
Must have 15 of fewer employees
Annual gross sales (of existing business) cannot exceed $300,000
Existing or Previous business owner track record preferred
Service-oriented business (one that fills a community need, a plus)
Must live within the following zip codes: 90001-90004*, 90005-90007, 90008*, 90011, 90013-90015, 90016*, 90017-90018, 90019*, 90020-90021, 90023*, 90026, 90029, 90031*, 90033*, 90037, 90038*, 90043*, 90044*, 90047*, 90057, 90058*, 90062, 90063* | (*part of these qualify)
Interested? Send a written summary/presentation/business plan/project proposal/etc. to hassan@risela.org or ynunez@cdtech.org. We will be reviewing inquiries on a rolling basis. However, our aim is to get the project off the ground as soon as we confirm enough qualified, good-fitting candidates.
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