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Selma Place plans 7-story resi building in Hollywood
The 51-unit project will require demolishing a 10-unit building
The gentrification of Hollywood marches on.
Plans have been filed with the city for a seven-story, 51-unit residential building at 6753 W. Selma Avenue.
The project will set aside eight units classified as “very low-income” and will create 27 parking stalls.
Selma Place LLC, registered to Jennifer (Yingxi) Chen, is the applicant behind the Los Angeles Department of City Planning request. The LLC purchased the property in May for $3.24 million. Its plans call for the demolition of an existing 10-unit apartment building on the site.
Of the 51 residential units, eight will be classified as “very low income.” These apartments will be available to tenants whose income is 30 to 50 percent less than the area median income, or less than $41,500 for a four-person family, according to a 2017 report by the California Housing Partnership.
Because of its proximity to the Hollywood/Vine metro station, the Selma Place LLC project is requesting a 59 percent density bonus through the Transit-Oriented Communities program. The program is available to projects located near transit hubs and sets aside a portion of units as affordable housing in exchange for exemptions from key planning and zoning requirements.
The Selma project joins a spate of other developments underway in Hollywood, including a 68-unit, seven-story apartment planned for 1723 N. Wilcox Avenue near the Hollywood/Vine Metro station. Like Selma Place LLC, developer Nathan Korman will raze the existing low-rise apartments and seek a density bonus through the Transit Oriented Communities program.
In most cases, developers are having to navigate affordable housing concerns. Last year, affordable housing advocates and L.A. Mayor Eric Garcetti rallied around the Affordable Housing Act, a repeal effort that would have removed the existing 1995 law, which allows the city to limit rent increases only on buildings constructed before October 1978. The act ultimately failed to pass the Assembly’s Housing and Community Development Committee in January.