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The Real Deal Los Angeles

Harridge seeks help from city for mixed-use Koreatown project

Assistance for the hotel and apartment complex could come in the form of tax rebates
March 27, 2018 03:11PM

3240 Wilshire Boulevard

Harridge Development Group is seeking a financial incentive package from Los Angeles for the construction of its planned hotel and 555-unit apartment complex in Koreatown.

In 2016, the L.A.-based developer acquired the Wilshire Galleria shopping mall in Koreatown for $49 million, with plans to build the mixed-use project there, according to Urbanize, which reported on the financial incentive request. Harridge said it would build a 160-key hotel, along with the residential component and ground-floor retail.

Financial assistance from the city often comes in the form of tax rebates.

Harridge did not immediately return requests for comment, has now asked for financial assistance with the project.

The city has also provided aid for other similar projects, including Fig + Pico, the large mixed-use project slated near the Los Angeles Convention Center; and the 350-key Hotel Indigo at Metropolis, accpording to Urbanize.

Harridge, meanwhile, is also developing the Crossroads Hollywood. The project will have three skyscrapers, 950 residential units, 308 hotel rooms, office space and retail space. [Urbanize] — Hannah Madans