Irvine developer plans condo complex in Ktown
An Irvine-based developer wants to build a 89-unit condo complex in Koreatown, according to city documents.
Sang Hoon Chung, under the entity Fred & Jamison LLC, filed plans for an 85-foot-tall condo structure at 500 S. Oxford Avenue, on the corner of Oxford Avenue and W. 5th Street. Chung’s entity does not appear to have any ties to Koreatown mega-developer Jamison Services, though that could not immediately be confirmed.
Chung acquired the 0.8-acre parcel for $8 million in 2014, property records show. His LLC is tied to Sireus Corp., a firm that specializes in foreign stock.
Ketter Designs was tapped to design the project, according to planning documents.
Koreatown was the third most popular submarket for multifamily projects in 2016, according to The Real Deal’s analysis of case filings in February. The neighborhood saw 48 projects proposed, the bulk of which were filed by Jamison Services.