Jamison digs deeper into Koreatown

The 72-unit Maya residence adds to developer’s growing portfolio

Los Angeles /
Mar.March 05, 2018 11:15 AM
Jamison’s Maya building at 535 South Kingsley Drive

Jamison Properties just crossed a milestone.

The Koreatown developer just completed its first ground-up construction project on its home turf. It is the first of four the company plans to complete this year in Los Angeles.

The 72-unit market rate project at 535 South Kingsley Drive, called the Maya, is seven stories and features one- and two-bedroom apartments between 580 and 1,265 square feet. The units include stainless steel appliances, balconies, and in-unit laundry. Amenities include a gym, pool, and a rooftop terrace.

In a news release, Jamison Properties CEO Garett Lee said he expects to hit full occupancy by year end, as “the inventory of multifamily product in Koreatown has not kept up with demand.”

For years the family firm focused on commercial properties, but broke into the multifamily game in 2013, when it converted a nine-story commercial property on Wilshire Boulevard into the 127-unit Westmore project.

Jamison hasn’t slowed down since, filing a flurry of applications for multifamily projects, mostly in or adjacent to Koreatown. The city approved its plans for a 16-story project near the Wilshire Professional Building a month ago.

Also scheduled for completion this year is Jamison’s biggest project yet — the $500 million Circa luxury condo development in Downtown, which includes 648 units across two 35-story towers and 48,000 square feet of retail and restaurants at its base.


Related Articles

arrow_forward_ios
Neil Shekhter (Shekhter by Kevin Scanlon; iStock)
Santa Monica mega-portfolio officially hits market
Santa Monica mega-portfolio officially hits market
Rendering of 1411 South Flower Street (Housing Diversity Corporation)
Micro-housing to rise in DTLA Opportunity Zone
Micro-housing to rise in DTLA Opportunity Zone
NMS Properties' Neil Shekhter and renderings of 1325 6th Street, 1437 6th Street, 1430 Lincoln Blvd. and 1318 Lincoln Blvd. in Santa Monica (Kevin Scanlon, WSC)
City for sale: Shekhter looks to unload mega-portfolio in Santa Monica
City for sale: Shekhter looks to unload mega-portfolio in Santa Monica
300 S. Santa Fe Ave. (Google Maps)
LA’s top 5 multifamily investment sales of 2020 fell 50%
LA’s top 5 multifamily investment sales of 2020 fell 50%
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
arrow_forward_ios

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

Loading...