Quantcast

The Real Deal Los Angeles

Jamison ready to break ground on 224-unit Hollywood development

The project is good news for the company, which has been dogged by recent controversy
April 06, 2018 08:07AM

Jamison Services’ Jamie Lee and the site of 1718 Las Palmas

Jamison Services is set to start building a 224-unit apartment complex in Hollywood, a significant project that has been overshadowed by recent controversy that has surrounded the company and its founder.

The family firm has cleared a parking lot at the one-acre site, which spans mid-block from Las Palmas to Cherokee avenues, between Hollywood Boulevard and Yucca Street, according to Urbanize, which first reported on the development.

It’s one of a handful of projects the prolific Koreatown-based multifamily developer has in the works around the city and one of two properties it owns in Hollywood, according to Real Capital Analytics. The family firm has a $5 billion portfolio of over 100 assets mostly concentrated in Koreatown, where it’s undertaken a number of adaptive re-use projects and new development projects.

It’s welcome progress for Jamison. The city handed the firm a major defeat a few weeks ago when it blocked its 500-unit mixed-use tower project at 3700 WIlshire Boulevard in Koreatown. That followed an incident involving Jamison founder, David Lee, who threatened to shoot protesters who step foot on a park he wants to demolish for the project.

The latest project is not so controversial. It is a six-story apartment building, which will have studio through two-bedroom units and 1,000 square feet of ground-floor retail space. Jamison utilized a density bonus and will set aside 24 units for “very-low-income” tenants. It will also have 305 parking spaces through four levels of underground parking.

Jamison purchased the site in 2016 from Champion Real Estate Company and appears to be following through with a design Belzberg Architects designed for Champion. [Urbanize] — Dennis Lynch