SoLa Crenshaw Center

SoLa Impact, LLC (“SOLA,” or “Sponsor”) will utilize NMTC financing for the development of the SoLa Crenshaw Center (“Project”), which makes up the commercial portion of the greater Crenshaw Lofts development. SOLA is the Sponsor of the SoLa Crenshaw Center project and has the same majority owners as the manager of its affiliated OZ Fund. The Project aims to address the critical need for community-focused amenities and housing in South Los Angeles. NMTCs will finance the ground floor community facility, including the SoLa Tech Center West (a dedicated space for technology access and workforce training) and Crenshaw Café (culinary workforce training program), as well as a 133-stall parking garage.

The greater Crenshaw Lofts development includes 186 rental housing units on the upper floors (20% of which will be affordable). Construction of the rental residential is financed separately. on the upper floors. By combining economic opportunities, housing, and community engagement, the greater Crenshaw Lofts development seeks to foster long-lasting impact for underserved residents while revitalizing a severely distressed census tract along Crenshaw Boulevard, designated as a cultural hub for Black Arts and Culture.

The NMTC-financed project will create and retain a total of 45 permanent jobs and create 67 construction jobs, contributing to economic growth and the revitalization of the Crenshaw Boulevard corridor

SoLa Tech Center West (“Tech Center"), operated by the Sponsor’s affiliate SoLa Foundation, represents the largest component (approx. 10,000 SF) of the NMTC- financed SoLa Crenshaw Center and will deliver the following programming:

Digital Literacy and Workforce Development: It is projected to serve 2,500 individuals annually, focusing on empowering low-income individuals with marketable skills. The program has a long-term goal of building a skilled workforce of 5,000 leaders and innovators by 2030.

Youth Empowerment and Entrepreneurship Programs: The Tech Center will also provide specialized youth programs in entrepreneurship, financial literacy, and leadership development. Approximately 500 youth are expected to participate annually, with a particular emphasis on reaching underserved communities.

Community Workshops and Life Skills Training: Open to the public, the Tech Center will host community workshops on topics like financial literacy, career readiness, and personal development. These sessions are designed to help residents build essential life skills and advance professionally, serving around 1,000 participants annually.

Live Nation Studio Events and Local Arts Programs: The Live Nation Studio within the Tech Center will host cultural events, including live performances and art exhibitions that celebrate local talent and culture.

The Project will also include the Crenshaw Café, also to be operated by SoLa Foundation. Crenshaw Café will be a culinary workforce development program providing hands-on vocational training and certification in culinary arts, food safety, and entrepreneurship.