Is a massive condo complex coming to South Central LA?

Longtime property owner filed plans for 291 condos on Figueroa Street

Jul.July 13, 2017 04:00 PM
The Orbit Industries building at 2100 S. Figueroa Street and a rendering of the Reef project

The $1 billion Reef project in South Los Angeles may be long from completion, but the area is already seeing its ripple effects.

The owner of Orbit Electric, an electrical products manufacturer, filed plans Wednesday for a mixed-use, adaptive reuse condo complex at 2100 S. Figueroa Street in Historic South Central L.A. The proposed development sits just west of the 110 Freeway, near the border of University Park.

The plans submitted by Saeed Nikayin call for 291 condos and about 7,000 square feet of ground floor commercial spaces, city documents show.

The site currently houses Orbit Electric’s offices and facilities in a 97,000-square-foot industrial building, according to the company’s website.

Nikayin, through a family trust in his name, acquired the property in 2004 for $3 million, records show. He could not be reached for comment.

Just down the block, developer Daryoush Dayan wants to build two resi towers above existing lofts at 2222 S. Figueroa Street.

The Reef, proposed by physician and real estate aficionado Ara Tavitian, will bring more than 1,400 residential units and 28,000 square feet of restaurants on the block bound by Hill Street, S. Broadway, W. Washington Boulevard, and W. 22nd Street. It gained approval from City Council late last year, despite protest from local housing advocates that fear gentrification.

Related Articles

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

510 Park Avenue and CEO of Monster Beverage Rodney Sacks

Monster Beverage affiliate guzzles down industrial project in San Fernando

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

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

Centennial founder and CEO Steven Levin with a rendering of the project

Centennial Real Estate approved for sprawling $300M mixed-use village

Apartment complex at 1435 Stanley Avenue and Raintree Partners CEO Jeffrey Allen (Credit: Apartment Finder)

Raintree Partners spends $79M on Glendale multifamily portfolio

LA Mayor Eric Garcetti

Down goes Measure EE: Property tax referendum routed at polls