Transit-Oriented Communities resi project slated for Fairfax

The complex would include 24 units and ground-floor retail

Los Angeles /
Aug.August 22, 2018 05:00 PM
7673 Melrose Avenue

A 24-unit residential project is slated for a corner property on Melrose Avenue in the Fairfax district.

The project at 7673 Melrose Avenue will replace an auto shop and feature 5,300 square feet of ground-floor retail, according to Urbanize. The developer, 7673 Melrose Ave LLC, is requesting bonuses via the city’s Transit-Oriented Communities program and will set aside two units as affordable.

The developer is requesting a reduction in the project’s parking requirement, open space, and a boost to floor-area-ratio in exchange for the units. The LLC leads back to Young Son Kim, an attorney with the Koreatown firm Kim Joo & Associates.

The TOC program has proven popular with developers since its rollout in September 2017. More than 1,000 units have been filed for under the program, which was at 112 projects as of mid-July. Overall, developers have filed for 5,571 units through the program.

A TRD analysis in March found that most developers opt to include the minimum number of affordable units to qualify for the program. In a few cases, affordable developers have planned entirely affordable projects under the program.
[Urbanize] — Dennis Lynch


Related Articles

arrow_forward_ios
Randy Kendrick, chief executive officer, Xebec Realty, and 12975 Bradley Avenue in Sylmar, CA (Xebec Realty, LoopNet)
Xebec looks to flip Sylmar industrial to self
Xebec looks to flip Sylmar industrial to self
A rendering of 10130-10136 Adella Avenue and Newport Ventures’ Dave Mossman and Kemp Bros. Construction's Greg Solaas (LinkedIn, Kemp Bros., CBRE)
South Gate lot entitled for 78 resi units up for sale
South Gate lot entitled for 78 resi units up for sale
Neil Shekhter, WS Communities CEO Scott Walter and 1550 Lincoln Boulevard
Shekhter’s WSC gets $125M loan for LA resi developments
Shekhter’s WSC gets $125M loan for LA resi developments
Rob Speyer (President, Chief Executive Officer, Tishman Speyer) & Neil Shekhter (Founder, Chief Executive Officer, NMS Properties) (iStock, Tishman Speyer, NMS Properties, Illustration by Kevin Cifuentes for The Real Deal)
Tishman Speyer to build 620 units on Santa Monica sites
Tishman Speyer to build 620 units on Santa Monica sites
OC-based JV gets $77M loan for Inland Empire residential
OC-based JV gets $77M loan for Inland Empire residential
OC-based JV gets $77M loan for Inland Empire residential
From Kmart to Cop Shop in Inland Empire
From Kmart to Cop Shop in Inland Empire
From Kmart to Cop Shop in Inland Empire
Court clears new housing near Expo Line
Court clears new housing near Expo Line
Court clears new housing near Expo Line
9.7-acre Thousand Oaks development site for sale
9.7-acre Thousand Oaks development site for sale
9.7-acre Thousand Oaks development site for sale
arrow_forward_ios

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

Loading...