Irvine developer plans condo complex in Ktown

Sang Hoon Chung wants to build a 89-unit structure

TRD LOS ANGELES /
Jun.June 20, 2017 03:30 PM
The site at 500 S. Oxford Avenue

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.


Related Article

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

From left: Saeed Nourmand, Michael Nourmand, Grant King and Richard Heyman

Relevant Group sues Nourmand & Associates’ founder, alleging extortion over hotel projects

Rendering by Andmore Partners

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

arrow_forward_ios