Condo spree: Jamison plans another project near Koreatown with 228 units

Developer filed plans with city for 7-story development

May.May 12, 2016 05:14 PM

Developer Jamison Services, long known as one of L.A.’s biggest office landlords, has been on a residential spree that’s not slowing down anytime soon

Jamison recently filed plans with the city for a 228-unit condo project at  3975-3987 West Ingraham Street just west of Koreatown in Park Mile, The Real Deal has learned.

The proposed project is the ground-up construction of a seven-story,105-foot condo tower. The 205,109-square-foot development would also have 16,955 square feet of commercial space and 340 parking spaces. To make way for the structure, Jamison would demolish a two-story, 4,732-square-foot commercial building and a one-story, 4,668-square-foot commercial building. It would also take over a surface parking lot on the site, which extends to Wilshire Boulevard.

One of the buildings that would be demolished appears to be a Korean barbeque restaurant, but The Real Deal was not able to verify those details. The site is owned by an LLC dubbed Wilshire & Wilton.

Garrett Lee, the son of Jamison’s founder Dr. Lee,  who is in charge of the entitlement process, could not be reached for comment.

The proposed development is one of many residential projects Jamison has in the works. The firm recently acquired, with partner Hankey Investments, a 31-story high-rise apartment tower at 2908 Wilshire Boulevard. Weeks later, it acquired an office property zoned for almost 250 residential units at 2601 Wilshire Boulevard. 

As of January, Jamison had 27 projects in the works, the most massive of which is outside of the Koreatown area. Jamison is partnered with Hankey on the $500 million Circa development under construction at 1200 South Figueroa Street in Downtown Los Angeles. 

“People are working against the clock right now,” Jaime Lee, CEO of Jamison’s commercial leasing and asset management arm, told the Wall Street Journal in an interview. “We’re coming to market as quickly as we can.”

Related Articles

Michael Sorochinsky, Steven Fifield, Mike Parrell, and Next on Sixth

Big deal: Sam Zell’s Equity Residential buys 398-unit Koreatown resi complex

Top to bottom: a rendering of the project and a photo of the site at 3170 West Olympic Boulevard (Credit: Google Maps)

Koreatown hotelier sells shovel-ready development site entitled for 252 units

Jamie Lee of Jamison and the property

Multifamily developer Jamison expanding in West LA with development site purchase

Jamison Services' Jamie Lee

Jamison signs post-production firm to long-term lease at Studio City office

From left: Comerica Bank CEO Curtis Farmer, Jamie Lee and 2842 West James Wood Boulevard (Credit: LinkedIn and Google Maps)

Jamison nabs construction loan on another big resi project

From left: Director of Realty Ryan Limb and Newport Partners founder Monique Hastings with the property (Credit: Google Maps)

This developer is going all in on LA affordable housing

Simon Kerendian's Koreatown development site

In Koreatown, residential project proposals keep piling up

Bastion Development Corporation Executive Vice President Reid Kaufmann and the Koreatown project

This Vancouver developer is bringing a 200-unit resi project to Koreatown