Large resi complex in Palms would include affordable component

The proposed development is slated for 409 units, including 45 for low-income residents

Los Angeles /
May.May 24, 2018 12:30 PM
3443 S. Sepulveda Boulevard

More affordable units are coming to Palms, as a developer filed plans for the second project in three months to feature low-income housing for the westside enclave.

An unidentified developer filed plans on Wednesday to build a seven-story mixed-use building at 3443 S. Sepulveda Boulevard with 409 total units, according to the Department of City Planning. It will feature 45 affordable units, which the filing applicant requested in exchange for a 35 percent density bonus.

Pending approvals, the complex will include some retail and dining options. It’s currently home to a shuttered, 40,000-square-foot Albertsons supermarket.

The owner of the 121,000-square-foot lot is tied to Reliable Properties, a real estate acquisition and development firm based in Carthay, in Central Los Angeles. The firm purchased the property in 2005, property records show.

Reliable Properties did not return requests for comment.

Elsewhere in Palms, another developer is seeking approvals for a mixed-use project located near a transit hub. The 187-unit would rise at 3664-3688 Overland Avenue, and include 19 affordable units, along with 3,864 square feet of commercial space.


Related Articles

arrow_forward_ios
Jamison Properties' Jaime Lee and rendering of 3000 Wilshire Boulevard, Koreatown (Jamison Services, USC Lusk, Getty)
Jamison to raze building for 188 apartments in Koreatown
Jamison to raze building for 188 apartments in Koreatown
Avanath's Daryl Carter with Baldwin Village Apartments (LinkedIn)
Avanath and public agency pay $220M for Baldwin Village apartments
Avanath and public agency pay $220M for Baldwin Village apartments
Greystone's Hafize Gaye Erkan with 1657 N. Western Avenue (Greystone)
Bond financing kickstarts affordable senior housing complex in Hollywood
Bond financing kickstarts affordable senior housing complex in Hollywood
Mayor Sue Himmelrich (City of Santa Monica, Getty)
Santa Monica moving to tighten rent control rules
Santa Monica moving to tighten rent control rules
California governor Gavin Newsom and state senator Scott Wiener (Getty)
Analysis: Report puts California housing shortage in national perspective
Analysis: Report puts California housing shortage in national perspective
Architect Frank Gehry and rendering of Ocean Avenue Project (Getty, Ocean Avenue Project)
Santa Monica approves Frank Gehry project
Santa Monica approves Frank Gehry project
Uncommon Developers’ Jason Larian and Ryan Hekmat with a rendering of 6728 Sepulveda Boulevard (LinkedIn, Works Progress Architecture)
Uncommon Developers plans 405-unit complex in Van Nuys
Uncommon Developers plans 405-unit complex in Van Nuys
CIM Group’s Shaul Kuba with 6611-6637 Hollywood Blvd
CIM Group plans 146 apartments on Hollywood’s Walk of Fame
CIM Group plans 146 apartments on Hollywood’s Walk of Fame
arrow_forward_ios

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

Loading...