Jamison plans seven-story Ktown apartment building at Jun Won restaurant site

Los Angeles /
Sep.September 01, 2016 11:05 AM

Jamison has planned yet another resi project on its hometurf, The Real Deal has learned.

The Koreatown landlord-giant recently filed an environmental review for a seven-story mixed-use complex at the corner of West 8th Street and South Berendo Street, on the site of the shuttered seafood eatery Jun Won.

The project at 3100 West 8th Street calls for 3,575 square feet of commercial space on the ground floor and 98 apartment units. Nine of the units would be set aside for very low income households and the rest will be market rate, according to city documents.

The site is currently occupied by a 9,500-square-foot retail plaza, which the developer purchased for $6.75 million last September. The structure, zoned as a commercial building, would be demolished to make way for the residential complex.

Its tenants had all moved out as of last month, according to CoStar. Jun Won, the hole-in-the-wall establishment known for its spicy steamed cod, closed up shop at the end of April.

Jamison is certainly keeping busy these days. In July, the family-operated firm filed plans for a 36-story, 506-unit rental tower on the block bound by Wilshire Boulevard, Oxford Avenue, 7th Street and Serrano Avenue. And earlier this summer, TRD reported that it’s pursuing a 228-unit condo complex just down the road at 3980 Wilshire. Then of course there is its Circa megadevelopment in Downtown Los Angeles.

Koreatown, in the meantime, hardly needs the gochujang to stay hot for development. Nearly 1,700 units, or more than 3 percent of total inventory, are under construction as of late July, according to a CoStar report, and that figure doesn’t account for the hundreds in the proposal stages.

LaTerra Development is mulling either condos or up to 221 apartment units at 235 North Hoover Street, TRD reported Monday, and Hankook Property Management is planning a 228-unit condo complex at 1000 South Vermont Avenue.

 

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