Compton sports store owner plans another apartment project in Ktown

Stuart Whang has filed plans for four projects in as many months

Jan.January 25, 2017 12:15 PM
909 Fedora Street

Stuart Whang can’t stop, won’t stop.

The Compton sports store owner filed yet another set of plans for a development in Koreatown, this time for a 23-unit apartment complex on the site of a single-family house on Fedora Street, city planning documents show.

The project would require demolishing a 3,786-square-foot residence at 909 Fedora Street, which is already zoned for multiple dwelling residential use. Whang, under the entity, SWW Investment LLC, acquired the property for $1.1 million in 2015, property records show.

Of its 23 units, six would be reserved for low-income households.

Earlier this week, Whang, the owner of Colosseum Athletics in Compton, filed plans for a 46-unit apartment complex in MacArthur Park, The Real Deal reported. The Fedora Street project is his fourth such proposal in four months.

Developers such as Whang have been rushing to file plans ahead of the Neighborhood Integrity Initiative, which will appear on the March ballot as Measure S. In the third quarter of 2016, the most recent period for which data was available, 128 new projects plan were filed, comprising 15,736 residential or hotel units. That was up 78 percent over the number of projects from the same period in 2015, according to a December TRD analysis.

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

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