A local multi-family developer hopes to replace a Mid-City triplex with a five-story apartment building with a few low-income units.
South Orange Grove Avenue LLC, an entity managed by investor Yoav Atzmon, has filed plans to raze the one-story triplex located at 1450 S. Orange Grove Ave. in Los Angeles, according to the Commercial Observer.
The WWII-era triplex would be replaced with a 16-unit apartment building, according to a request from the Los Angeles Department of Planning.
The five-story structure would be covered with cantilevered balconies, topped by a roof terrace, and would include semi-underground parking for 29 cars, according to.
The developer requested a zoning override to add increased height and reduced side yard setbacks in accordance with city transit guidelines.
The guidelines, which aim to stimulate the construction of affordable housing near public transport, stem from the JJJ measure approved by voters and adopted in 2016.
In exchange for the variance, three of the apartments would be reserved as affordable housing for renters earning extremely low incomes, or about 30% of the region’s median income.
Ketter Construction serves as the architect and project representative for the proposed Mid-City Apartments, one of the many developments he is working on in the area. Most of them are replacing single-family homes either with small multi-family buildings or with larger mixed-income projects.
In 2018, Atzmon applied for approval to construct a 24-unit apartment complex at 2310 W. Ocean View Ave. in Westlake. The project had similar transit rights that reserved four units for very low income residents.
In recent weeks, many developers have filed applications to build apartments, a trend emerging in a tight housing market in Southern California.
New York-based Tishman Speyer plans to build 620 apartments and offices on 3.1 acres in downtown Santa Monica which he bought for $ 150 million. According to the deal announced this month, 19% of units – or 116 –
will be classified as affordable.
Last month, Westwood developer Farzad Essapour’s Luxurious Properties filed for plans to build 48 apartments on a largely vacant property in South Los Angeles. He wants to reserve five units in affordable housing for very low income renters.
[Urbanize Los Angeles] – Dana Barthélemy