In South LA, approximately 35-40% of housing units are owner-occupied, and single-family homeownership is out of reach for low- and moderate-income households, with the median listing price around $650,000-$750,000. The Connecting Capital & Community (3C) initiative, led by Genesis LA, has worked across the public, private, and nonprofit sectors to address Los Angeles’ housing crisis, with the long-term goal of increasing homeownership among Black and Latino communities and curbing the displacement of Black tenants in historic neighborhoods.
JPMorgan Chase’s investment in 3C is part of its $400 million five-year commitment to improve housing affordability and stability for underserved communities nationwide. The 3C Initiative, launched in 2021, was established in partnership with the Center for Community Investment and JPMorgan Chase to advance equitable housing solutions in Los Angeles, Chicago, Seattle, Miami, and Washington, D.C. On February 13, 2026, the Led by Genesis LA, and also included Coalition for Responsible Community Development (CRCD), Community Coalition (CoCo), Tenemos que Reclamar y Unidos Salvar la Tierra – South LA (T.R.U.S.T. South LA), Little Tokyo Service Center (LTSC), Off Top Design (OTD), and Self-Help Federal Credit Union.
“After years of working with this amazing team led by Tom De Simone, I am so proud to see this project come to fruition,” said Marsha Mitchell, Senior Communications Director at Community Coalition, which was a community liaison partner for the project. “There was a deep commitment from JPMorgan Chase that focuses on closing the wealth gap in this country. Homeownership remains the primary way families build and transfer wealth, and that has systemically been restricted from communities of color as a result of redlining in the housing and banking sectors.”
Community organizers from both Community Coalition and T.R.U.S.T. South LA served on the Los Angeles 3C Resident Council, which provided a forum for community members to voice their concerns, needs, and aspirations regarding the two 3C projects. They advocated for South LA’s interests regarding quality and affordability to housing developers, local authorities, and other stakeholders. By providing their collective voice, the resident council definitely helped shape aspects of the decision-making process and the educational materials about the loan products available to prospective buyers from Self Help Credit Union on Crenshaw Blvd.
The 4th Avenue Homes are some of the first California Senate Bill 9 homeowner projects in South Los Angeles. SB 9 allows homeowners in most single-family residential zones to split their lot into two parcels and build up to two homes on each lot—effectively permitting up to four units where only one home previously existed. “This project demonstrates what’s possible when housing advocates come together to create solutions that make homeownership accessible. It also reflects what can happen when the best minds in housing collaborate with intention,” said Alejandro Martinez, President, CRCD Partners LLC. “This groundbreaking is proof that we can design innovative approaches to developing housing and give homeownership opportunities to our communities.”