Developer plans 33-unit apartment complex in Westchester

Plan would add more affordable units near LAX

Sep.September 05, 2018 02:00 PM
A developer hopes to bring a new apartment building with some affordable units to 8900 S. Ramsgate Ave (Credit: Pixabay)

A developer is looking to add more affordable units to the Westchester neighborhood near Los Angeles International Airport.

Daniel Cowdrey filed plans with the Los Angeles Department of City Planning this week for a 33-unit apartment building at 8900 S. Ramsgate Ave. Twenty-seven of the units will be market-rate, and six will be designated as affordable housing for low-income tenants.

Cowdrey purchased the property in May 2016 for $620,000, according to documents filed with the city.

The developer will also seek a zoning change to increase the allowed height on the property. In order to promote affordable housing with access to mass transit, L.A. offers developers of residential projects access to a package of incentives. Those can be utilized if the developer sets aside a minimum of between 8 and 25 percent of the units as affordable and builds within a half-mile or less of a major transit stop.

Los Angeles has been pushing developers to add more market-rate and affordable units to cope with a severe homelessness and affordability crisis, which is being compounded by a lack of developable land. In July, a National Association of Realtors survey ranked L.A. as the least affordable place in the entire country. A typical household in L.A. can barely afford to buy four percent of the homes listed for sale, according to the study.

Related Articles

Ruth Group President Bob Ruth

Vacancies abound in LAX office submarket but so do investors

Malibu Real Estate Investments principals Bedros Oruncakiel and Kirkor Suri

Malibu spec mansion lists amid softening luxury market

Chandler Parsons and his property on Stone Canyon Road (Credit: Getty Images)

Durant wants out of Malibu, and now Chandler Parsons is listing his Bel Air mansion

CoreLogic's Andrew LePage and Orange County (Credit: Wikipedia)

SoCal housing market shows signs of life, with a caveat: report

Bridge Housing CEO Cynthia Parker and a rendering of the view from Walnut and Anaheim (Credit: SVA Architects)

Fully affordable complex set to rise in vacant Long Beach lot

Tracy Tutor and her Brentwood home

Tracy Tutor of “Million Dollar Listing ” asking a lot more for Brentwood home

Anton Lessine and 321 South Bristol Avenue, and Behati Prinsloo and Adam Levine with their home (Credit: Getty Images and Zillow)

This week in celeb real estate: Adam Levine unloads $45M home, a Hollywood film producer sells in Brentwood…and more

Anton Lessine and 321 South Bristol Avenue (Credit: Getty Images)

Hollywood producer Anton Lessine sells Brentwood Park mansion for $17M