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Transit-Oriented Communities resi project slated for Fairfax
The complex would include 24 units and ground-floor retail
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