Chinese motorcycle maker plans 304-unit tower in Westlake

Subsidiary of Lifan Group bought the 1-acre site for $19M last year

TRD LOS ANGELES /
Jan.January 04, 2017 09:30 AM
The Class C office at 1247 West 7th Street and an old rendering of the tower (Credit: Google Earth, Loopnet)

An LLC tied to Lifan Group, a Chinese car and motorcycle manufacturer, filed plans Tuesday to build a 304-unit mixed-use complex in Westlake, just west of the 110 Freeway.

The plans call for 5,700 square feet of ground-floor retail, a parking garage, and 34 units set aside for affordable housing as part of a density bonus request.

Renderings of the project first surfaced last February, Urbanize reported. They show a 28-story glass tower with an amenity deck that features a swimming pool and an outdoor lounge area.

Lifan bought the one-acre site at 1247 West 7th Street for $19 million, or $904 per square foot, in early 2016, records show. The site is currently occupied by a 21,000-square-foot Class C office building, according to CoStar. The property is currently entitled for a 33-story condo tower with nearly 200 units, according to prior marketing materials on Loopnet.

Lifan purchased the land for double its last sale price — $9.9 million in 2015. [Urbanize] — Cathaleen Chen


Related Articles

arrow_forward_ios
LA City Councilmember Gil Cedillo and Jade Enterprises’ Sapphire development (credit: Scott L on Flickr)

Westlake abandoned its affordable housing requirements a decade ago. Things have changed

Carlyle Group co-CEO Kewsong Lee, Holland Partner Group CEO Clyde Holland, and the Sofia Los Angeles (credit: North American Sekisui House, LLC)

Carlyle Group pays $273M for big apartment complex in Westlake

29th Street Capital founder Stan Beraznik, Jason de Guzman, the firm’s senior vice president for acquisitions for L.A., and the three buildings at 131, 143, and 171 S. Burlington Avenue

Westlake apartment portfolio sells a year after tenants battled landlord over rent hike

Medical office building at 2100 W 3rd Street and HTA CEO Scott D. Peters

Stockdale Capital sells Westlake medical office complex for 40% more than it paid

Richard Heyman and May Phutikanit with the project site (Credit: Google Maps and iStock)

Hollywood hotel developer Relevant Group is getting in the affordable housing game

Adrian Jayasinha and the project site (Credit: Google Maps)

Walter J. Company eyes Opportunity in Westlake resi development

LINC Housing takes on a stalled affordable development in Westlake

Jamison scores loan for latest office-to-apartment conversion

arrow_forward_ios