LaTerra files preliminary plans for 221 condos between Koreatown and Westlake

Residential complex could have as many as 221 units, developer said

TRD LOS ANGELES /
Aug.August 30, 2016 01:00 PM

Taking a lead from Koreatown’s burgeoning condo market, Los Angeles-based firm LaTerra Development has requested a vesting tentative tract for the construction of 221 condo units between Westlake and Koreatown, The Real Deal has learned.

The step is very preliminary, LaTerra’s VP of acquisitions and development, Chris Tourtellotte, told TRD. More details will emerge as the project takes shape. 

The project will either be condos and apartments, he told TRD, with a maximum of 221 units. LaTerra acquired the site at 235 North Hoover Street in April. The vacant land spans nearly three acres.

LaTerra’s project is the third Koreatown condo complex proposed to city planning this week. Just Monday, private property owner Jim Choi filed for a 29-unit condo complex at 900 South Kenmore Avenue, TRD previous reported. Meanwhile, Hankook Properties filed plans for a 228-unit condo complex on Olympic Boulevard Friday.

There were 80 condo units under construction in Koreatown, as of July 31, according to a recent market report from Polaris Pacific.

LaTerra focuses on residential and mixed-use developments in Southern California. Nearby, LaTerra developed 63 town homes in Silverlake that opened in 2014. One of the its bigger projects in the works is a $125 million mixed-use complex just a block from Sunset Boulevard. The firm is partnering with Chinese developer Gemdale Properties to build it.


Related Articles

arrow_forward_ios
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

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

Rendering by Andmore Partners

Going up: Koreatown developer wants to add resi units, with city incentives

Council President Herb Wesson and a rendering of the KANM including its housing component

Korean American National Museum scraps housing plan for new Koreatown building

arrow_forward_ios