Golden Boy Partners plan to invest $100 million into blighted areas throughout Los Angeles and other urban strongholds such as San Francisco, according to De La Hoya. This is the first partnership between De La Hoya and Long, who say they have been working on starting the business for almost a year and share similar upbringings.

"We want to see our kids riding bicycles in the streets again and feeling safe," said De La Hoya, who grew up in East Los Angeles. "We want to make sure these communities are places that people want to be in."

Though no specific deals were mentioned, Golden Boy Partners is looking at housing, retail, office and mixed-use projects for redevelopment. Long said that they are currently focusing on possible projects in the 30-acre range. The redevelopment and revitalization efforts will be privately funded by the organization, and the firm is not seeking government subsidies for its projects. "The focus is really giving back and investing our own money in these properties," De La Hoya said.