Community Vision Invests $5.075MM in PACE’s New Headquarters to Expand Services Across Los Angeles
FOR IMMEDIATE RELEASE
Los Angeles, CA—Community Vision has partnered with Los Angeles-based CDFI Genesis LA to support the Pacific Asian Consortium in Employment (PACE) in the acquisition of its future headquarters at 350 S. Bixel Street in Los Angeles. The investment will enable PACE to establish a permanent home within its service area and significantly expand programs serving low-income individuals, families, and small businesses across Los Angeles County.
Community Vision purchased $5.075 million of the $10.15 million acquisition loan, alongside lead lender Genesis LA, to help PACE secure the two-story, 63,874-square-foot property. The building will become PACE’s new headquarters following planned renovations, allowing the organization to consolidate operations currently spread across multiple leased locations.
“This investment is about more than a building—it’s about strengthening the infrastructure of a trusted community anchor,” said Catherine Howard, President of Community Vision. “PACE has served Los Angeles communities for decades, and this new headquarters will allow them to deepen their impact, expand services, and better meet the needs of the people they serve.”
Founded in 1975, PACE serves more than 35,000 individuals, families, and small businesses each year through workforce development, early childhood education, affordable housing, energy assistance, and small business support programs. With a staff of more than 300 employees, PACE is one of the region’s leading nonprofit community development organizations.
PACE’s current headquarters consists of leased space across multiple floors, which has constrained collaboration and limited the organization’s ability to grow. The new Bixel Street property will allow PACE to bring nearly all headquarters staff under one roof, improve service delivery, and accommodate future growth. Following renovations, PACE expects to add approximately 30 new jobs and expand programming for economically disadvantaged communities.
Planned improvements to the property include upgrades to critical building systems such as HVAC, elevators, and roofing, as well as interior renovations to support community-facing programs. Once complete, PACE will owner-occupy approximately 80 percent of the building, while maintaining space for a long-term nonprofit tenant.
The acquisition was structured to allow PACE to move quickly to meet the seller’s timeline, while positioning the organization to pursue additional financing to support renovations. Genesis LA, a long-time Community Vision partner, is expected to provide New Markets Tax Credit financing for the project in the first quarter of 2026.
This investment reflects Community Vision’s growing work across California to advance community ownership of community assets and ensure community-rooted organizations have long-term control of the spaces that anchor their impact.
Media Contact:
Matias Bernal
Vice President of Development
415-392-8215
mbernal@communityvisionca.org
About Community Vision:
Founded in 1987 as the Northern California Community Loan Fund, Community Vision advances community ownership of community assets across California. Through lending, advising, and partnership, we support nonprofits and community-rooted organizations in securing the spaces that help communities thrive and build long-term stability. To date, we’ve invested more than $635 million in financing, leveraged over $3.3 billion, and distributed more than $39 million in grants. Community Vision is a nonprofit community development financial institution (CDFI) and an Equal Opportunity Provider.
