New Jersey Community Capital Expands with Southern California Investment

NEW BRUNSWICK, N.J., March 23, 2026 /PRNewswire/ -- New Jersey Community Capital (NJCC) has expanded its national presence with a $10,000,000 equity investment in The Walk, a mixed-use development in Norwalk, California. The project was developed by Primestor, a Los Angeles-based firm with a strong track record of community-focused development.

The Walk is a phased, mixed-use, modular development located at the intersection of Imperial Highway and Norwalk Boulevard in Norwalk, California (Los Angeles County). The project will redevelop an 8.2-acre, city-owned parcel currently used for surface parking and municipal operations, under a 65-year ground lease with the City of Norwalk.

The master plan envisions four mid-rise residential buildings over podium parking and six separate retail structures organized around a central public plaza that connects directly to City Hall and the Norwalk Transit Center. The site plan integrates open-air pedestrian corridors, outdoor dining areas, and civic green space to create a unified town-center environment within the city's downtown core.

At full buildout, The Walk will deliver 374 residential units, including 56 affordable units, and approximately 94,000 square feet of retail and restaurant space, supported by two podium garages providing 685 parking spaces. The project is expected to create 456 construction jobs and 324 permanent jobs, and will include on-site solar generation that will reduce carbon emissions by 30%.

The residential program totals approximately 240,000 net rentable square feet, with a balanced mix of studio, one-, two-, and three-bedroom units averaging 750 square feet.

Bernel Hall, President and CEO of NJCC, said, "This project, in partnership with a highly regarded community-based developer, exemplifies our commitment to revitalizing neighborhoods not only in New Jersey but nationally. This project in greater Los Angeles is a major step in the growth of NJCC and the positive impact we can have."

Arturo Sneider, Founder and CEO of Primestor, added, "Primestor is humbled and deeply appreciative of NJCC's commitment to the Norwalk community and its partnership in supporting and accelerating economic development in the communities we collectively serve. This investment reflects a shared belief in the power of thoughtful, community-centered development to create lasting opportunity and vibrant civic spaces."

A formal groundbreaking was held on Saturday, February 7, 2026, at the construction site adjacent to Norwalk City Hall. Distinguished speakers included Jennifer Perez, Mayor of Norwalk; California State Senator Bob Archuleta; Arturo Sneider of Primestor Development; and Bernel Hall of New Jersey Community Capital.

About New Jersey Community Capital

New Jersey Community Capital is a nonprofit community development financial institution dedicated to advancing opportunity through strategic investments and knowledge-based programs. It finances and supports individuals, businesses, educational organizations, and communities; preserves and develops affordable housing, community facilities, and educational organizations; and creates sustainable economic development generating quality jobs, improving education, and strengthening neighborhoods ensuring that communities can thrive. Founded in 1987, NJCC is a critical architect of community development initiatives, driving economic stability and wealth generation in overlooked areas.

SOURCE New Jersey Community Capital