“Genesis LA brings alternative sources of financing that the public sector otherwise doesn’t have to support projects”
– Arturo Sneider, Primestor Development
CAPITAL: The financial resources needed to bring about real estate development
CAPACITY: The human resources and community partnerships that are necessary to develop real estate in underserved markets
Genesis LA is a real estate-based investor that directs its capital to projects located in inner city communities throughout Los Angeles County where market-based financing is either inadequate or simply non-existent. Given the magnitude of dollars needed to develop meaningful projects in L.A., we have developed strategic partnerships that have allowed us to stretch our financial resources by leveraging more than $450 million of investment into nearly 40 projects that we have financed. Through our certification by the U.S. Treasury Department as a Community Development Financial Institution (CDFI) and a Community Development Entity (CDE), we have been able to access federal funds and $170 million of New Markets Tax Credit (NMTC) allocation. We have also developed strong relationships with minority-owned community banks in Los Angeles and have brought Wall Street to Main Street by working with investment banks to bring millions in private capital into L.A.’s poorest neighborhoods. We look forward to working with you to improve our communities.