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.