NSIIF Transforms the Crenshaw Corridor: The Clark on 54th
Updated: Mar 4
We’re excited to share the story behind 5365 Crenshaw / The Clark on 54th, a transformative project supported by the National Strategic Investments Impact Fund (NSIIF). This development reflects the power of mission-driven investment to preserve culture, create opportunities, and strengthen communities.
In a new video feature, the developer, Jamial Clark, shares his personal journey and the impact this project will have on Los Angeles’ historic Crenshaw corridor. Jamial's story is a vivid reminder that housing is more than just buildings — it’s a tool for generational wealth, community preservation, and inclusive growth.
Impact Highlights
The Clark on 54th is a mixed-use development that will deliver:
Provides 10 affordable units reserved for tenants earning 50% or less of area median income (AMI), supporting long-term housing stability for low-income families.
Enables Regenaissance, a family-owned business, to transition from landowners to co-developers, capacity-building and retaining local family ownership.
Reinforces Crenshaw’s cultural and economic growth through alignment with the Destination Crenshaw initiative, prioritizing neighborhood-serving retail and cultural expression.
Located in the heart of the Crenshaw corridor, the project aligns with the Destination Crenshaw initiative, prioritizing cultural expression, local ownership, and economic growth.
The project is co-sponsored by Praxis Development Group and Regenaissance LLC. Praxis Development brings deep experience in urban infill projects, while Regenaissance — a family-owned business — is transitioning from landowners to co-developers, building long-term capacity and retaining family ownership in the neighborhood.
NSIIF is providing a $12.25 million senior loan to support this $24 million development, with an additional $500K recoverable grant from LISC LA.
Projects like The Clark on 54th show how thoughtful, community-driven development can be transformative — preserving culture, expanding access to opportunity, and building vibrant, inclusive neighborhoods.
Endorsement disclaimer
"References made by third-parties are not an approval or endorsement of LFM and/or NSIIF. This article and the accompanying video are not, and nothing in them should be construed as, an offer to invest in any securities offerings in any jurisdiction."
Case study disclaimer
"The investment example has been provided herein for discussion purposes only and has been selected solely to provide an example of the type of investment NSIIF targets and LFM’s process to identify and analyze such investments. LFM makes no assurance that investment opportunities similar to that described in the investment example will be available in the future. It should not be assumed that the investment example provided was profitable or will be profitable going forward, or that a Fund’s future investments will have similar traits to the example presented."
$12.25 million senior loan on a $24 million build sounds like the hard part; for us, the 50% AMI set-aside was where the plan bent. We tried the same land-to-co-developer move, but the family wanted to keep the corner store, not add units. To bridge the gap, we had to look up what those old Pokemon card values might actually be worth, which felt ridiculous next to Destination Crenshaw.
Ten units at 50% AMI in a $24 million build—what legally locks that affordability after the $12.25 million NSIIF senior loan and $500K LISC LA grant are done? The best AI tools for scenario modeling can track layered subsidies, but they can’t enforce a recorded covenant, so I’m wondering if the restriction is tied to The Clark on 54th or built to sunset.
Jamial Clark’s move from landowner to co-developer on The Clark on 54th is a blueprint for other family-owned Crenshaw landholders and small mission-driven developers weighing a $24 million mixed-use build. With 10 units at 50% AMI, a $12.25 million NSIIF senior loan, and a $500K LISC LA recoverable grant, the lesson is the capital stack. Anyone rebuilding that stack can start with a development pro forma worksheet for affordable housing projects before courting lenders.
Finishing the article left me with a clearer understanding of the subject and several new pieces of information to consider. cooking games
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