Developer files plans for a 67-unit multifamily complex in Pico-Union

The project would benefit from transit-oriented incentives

Los Angeles /
Feb.February 16, 2018 09:50 AM
1045 South Dewey Avenue (Credit: Google Maps, Pixabay)

Dewey Properties filed plans for a 67-unit apartment complex at 1045 S. Dewey Avenue in the Pico-Union neighborhood, according to city planning documents.

The firm, led by Ryan Kim, is seeking transit-oriented incentives for the project due to its proximity to the Wilshire/Vermont and Wilshire/Normandie metro stations.

Dewey Properties purchased the site in October 2016 for $1.1 million, property records show.

The firm unsuccessfully filed a permit application last year to demolish the existing 1,600-square-foot duplex at the site. No new permit application has been filed yet.

Transit-oriented projects have become increasingly popular since the city enacted the program in September. Builders can apply for density bonuses if their projects sit within a half mile of a rail station or the intersection of two more bus routes that run every 15 minutes.

Just north of the proposed project, a developer is seeking TOC benefits for a 38-unit apartment building on South Oxford Avenue in Koreatown.

The Pico-Union neighborhood is also close to getting a 125-key hotel, as city officials recently approved a zone change request for the project at 2268 W. Pico Boulevard.


Related Articles

arrow_forward_ios
Landlords are organizing a protest around the lack of mortgage relief government policies and the inability to hit tenants with eviction notices.

What do we want? Mortgage relief!: Landlords plan LA protest

What do we want? Mortgage relief!: Landlords plan LA protest
Mike Bannon, California Apartment Association, executive director

Mom-and-pop resi landlords are already struggling

Mom-and-pop resi landlords are already struggling
An illustration of David Lee

A boomtown for a bygone era: Koreatown developers face a reckoning

A boomtown for a bygone era: Koreatown developers face a reckoning
Tani Cantil-Sakauye (Credit: Earl Gibson III/Getty Images)

Landlords sue California over eviction ban

Landlords sue California over eviction ban
Eric Garcetti, Nury Martinez, and Daniel Yukelson (Credit: Marc Flores and Alberto E. Rodriguez via Getty Imahes, Linkedin, and iStock)

LA landlords sue city over residential eviction ban

LA landlords sue city over residential eviction ban
Daniel Yukelson of Apartment Association of Greater L.A. and L.A. City hall (Credit: iStock)

For CA landlords, abysmal is the new normal

For CA landlords, abysmal is the new normal
Daniel Yukelson of Apartment Association of Greater L.A. (Credit: iStock)

Landlords fuming over sexual harassment “reports”

Landlords fuming over sexual harassment “reports”
Kevin Conway, director of acquisitions at IDEAL Capital Group in Clovis (Credit: iStock)

Don’t sound the alarm! CA May rent checks not in freefall

Don’t sound the alarm! CA May rent checks not in freefall
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...