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IMPACT

Building a brighter tomorrow

Creating sustainable communities

Primestor’s execution of catalytic, mixed-use real estate projects has supported the transformation of urban communities via job creation, local tax generation, introduction of essential services and resources, and environmental remediation.

  • Construction job creation: 8,000 local construction jobs with over $700 million in wages averaging 60% above median income.
  • Long-term economic activity: 20,000 local permanent jobs created with an overall 10-year average payroll economic footprint of $7 billion.
  • Environmental remediation: Remediation and clean-up of over 7 million square feet of contaminated urban land.
  • Contribution to local government: $150 million in tax credits, grants and subsidies generating 10-year local sales of nearly $28 billion and an average of $280 million in locally deployed sales taxes.
  • Industry leadership: One of the first new market tax credits in California and one of the first LEED Gold Costco locations in the world.

Social impact

Primestor is committed to uniting, empowering, and inspiring communities to achieve their highest potential. We invest in a world where undersupplied communities have home-grown leadership, self-representation, safety, and unprecedented access. Our network of relationships across stakeholder groups (industry, government, community organizations, and others) translates into properties that serve as trusted beacons of opportunity and growth. Our impact is felt through affordable housing, local job creation, local tax generation, infrastructure improvements, essential goods and services, and community engagement.

Building green

Guided by a new sustainability strategy, Primestor is assessing its pipeline and portfolio to identify opportunities to integrate green technologies, reduce carbon footprint, and support a healthier planet. Our Impact, Development and Asset Appreciation teams are meticulously evaluating where retrofitting can improve the performance and bottom line of our assets, and we ensure our development partners cooperate with our sustainability expectations on new projects. The implementation of our sustainability strategy will have immediate local impacts and contribute to global sustainable development goals.

Primestor has achieved the top-level
Certified Innovator status from the Culver City Sustainable Business Certification Program.

Supporting healthy neighborhoods

As a developer that believes in investing in, not extracting from, communities, we aim to improve the health of the communities we service. Our developments address environmental injustice like contaminated land and extreme heat, and solve for a lack of access to essential goods and services. An emphasis on grocers, healthcare, pharmacy, banking, and housing addresses community needs and ensures a mutually beneficial business environment for our tenants.

Supporting jobs and businesses

Economic development is at the core of Primestor’s catalytic projects. With an intrinsic commitment to job creation and local hiring efforts, Primestor has been responsible for tens of thousands of construction and full-time retail jobs resulting in billions of dollars generated within the communities we serve. A portion of all leasable space in the portfolio is set aside to incubate local businesses. We partner with local stakeholders and nonprofits to help local entrepreneurs succeed and grow their businesses. 

Engaging with communities

Primestor’s properties serve the needs of local communities and reflect their unique cultural identities. We rely on community input to shape project design and branding, curate a well-balanced tenant mix, provide dynamic event programming, and create a safe and engaging space for visitors. Our events calendar features unique events across the portfolio for families and individuals of all ages to benefit from and enjoy. We believe our community involvement enables us to communicate the spirit of our brand and deliver projects that are truly meaningful to us and the people we serve.

Responsible governance

We believe in leading by example and in delivering results with integrity, excellence and urgency. Our greatest strength lies in our team members, their well-being, and their ongoing personal and professional development. The continued commitment to these values is reflected in the financial success and lasting impact of our projects. A consistent pipeline of public-private partnership opportunities and capital partners looking to drive positive impact are yet another indicator of a proven track record guided by adherence to ethical business. Going forward, we plan to distribute comprehensive annual reports that track our goals and keep us accountable to our stakeholders.

Diversity is our strength

Primestor fosters a diverse and inclusive office environment that represents the communities in which we invest. Our team members are passionate about Primestor’s mission and contribute to a rich and dynamic exchange of ideas, yielding uniquely inspired assets that reflect the histories of our communities. We are proud to be a minority-owned enterprise and an equal-opportunity employer that supports the personal and professional aspirations of our team members.

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Primestor staff by ethnicity

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Primestor staff by gender