Kian Investment plans 69-unit complex in Koreatown

LLC potentially connected to auto entrepreneur proposed building with portion of units for "very low income" households

TRD LOS ANGELES /
Jun.June 15, 2016 01:00 PM

More apartments may be coming to Koreatown.

Kian Investment, an LLC registered to a trust established by Benhoor Elyashar and possibly associated with U.S. Auto Parts co-founder Sol Khazani, has filed a plans with the city to develop a six-story, 69-unit apartment complex at 926 South Kingsley Drive.

A single-family house currently sits on the 20,520-square-foot lot, according to the case filing, though it is zoned for multiple dwellings. The proposed two-story apartment building in question would have two levels of underground parking as well as about 6,300 square feet of open courtyard space. Other amenities would include a recreation room and balconies.

The applicant has proposed that six of the units to be for “very low income” households, and in turn, requested a 53 percent density bonus.

Kian also owns properties in Beverly Hills and Van Nuys.

Koreatown is home to a handful of massive residential projects in early stages. Last month, Jamison Services filed plans with the city for a 228-unit condo project at 3975-3987 West Ingraham Street just west of Ktown, The Real Deal reported. The firm is also working on two office-to-residential building conversions in Ktown on Wilshire Boulevard. And in April, Harridge Development Group submitted plans for the redevelopment the Wilshire Galleria into a 545-unit mixed-income apartment complex with space for stores, restaurants and hotel rooms.


Related Articles

arrow_forward_ios
CGI’s Gidi Cohen and the Fedora Street project

CGI scores $48M in construction financing for Koreatown multifamily project

Garcetti bans residential rent increases on rent-controlled units in LA
(Credit:iStockphoto)

As schools, work shut down, Garcetti puts moratorium on evictions

The Koreatown Plaza is hitting the market (Credit: Google Maps)

Venerable Koreatown Plaza is up for sale

From left, clockwise: Daydream Apartments’ Griffin and Grace on Spring, Douglas Emmett’s The Glendon at Westwood and Carlyle Group’s Sofia Los Angeles

Here are LA’s 5 biggest multifamily sales of 2019

A rendering of the project and Douglas Bystry, President and CEO of Clearinghouse

Koreatown resi complex marks firm’s entry into Opportunity Zones

L.A. City Attorney Mike Feuer and a rendering of the Koreatown project (Credit: Getty Images)

LA sues Koreatown developer Michael Hakim

L.A. Councilman Herb Wesson and an empty lot Rosewood Corp. is looking to build on (Credit: Getty Images and Google Maps)

Koreatown tower developer gave city council president’s son a deal on rent: report

Gavin Newsom signed bills to facilitate backyard home construction.

Yes, in my backyard: Brokers say new accessory dwelling unit law will reduce barriers to building

arrow_forward_ios
Loading...