Developer proposes a 116-unit building near Century City

12 units would be set aside for low-income residents

Los Angeles /
Sep.September 20, 2018 04:30 PM
Image of the property

Add another transit-oriented community project to the list, this one near Century City.

An unidentified developer has filed plans to build an apartment complex that would include affordable units at 10306 Santa Monica Boulevard, according to documents published with the Department of City Planning.

The 93,200-square-foot building would include 116 units total, with 12 set aside for extremely low-income residents.

Five apartment buildings, built in the 1950s, would be demolished in the process.

In exchange for building near public transit, and for supplying affordable units, the developer is hoping to secure approvals to build more than 20 feet taller than what city code allows.

An entity named Nesbro Santa Monica Properties LLC owns the site, property records show. The firm shares the same business address as California Landmark Group, a West L.A.-based multifamily developer, Urbanize reported.

Since the program rolled out last fall, developers have been taking advantage of the TOC program as a way to add more density to their projects. Many of the projects filed under the program are based in Koreatown, where there’s a big demand for residential housing near the Metro station.


Related Articles

arrow_forward_ios
Blackstone CEO Stephen Schwarzman (Getty, iStock)
Blackstone buys San Diego apartment complexes in $1B deal
Blackstone buys San Diego apartment complexes in $1B deal
Neil Shekhter (Shekhter by Kevin Scanlon; iStock)
Santa Monica mega-portfolio officially hits market
Santa Monica mega-portfolio officially hits market
Rendering of 1411 South Flower Street (Housing Diversity Corporation)
Micro-housing to rise in DTLA Opportunity Zone
Micro-housing to rise in DTLA Opportunity Zone
NMS Properties' Neil Shekhter and renderings of 1325 6th Street, 1437 6th Street, 1430 Lincoln Blvd. and 1318 Lincoln Blvd. in Santa Monica (Kevin Scanlon, WSC)
City for sale: Shekhter looks to unload mega-portfolio in Santa Monica
City for sale: Shekhter looks to unload mega-portfolio in Santa Monica
300 S. Santa Fe Ave. (Google Maps)
LA’s top 5 multifamily investment sales of 2020 fell 50%
LA’s top 5 multifamily investment sales of 2020 fell 50%
Landlords are organizing a protest around the lack of mortgage relief government policies and the inability to hit tenants with eviction notices.
What do we want? Mortgage relief!: Landlords plan LA protest
What do we want? Mortgage relief!: Landlords plan LA protest
Mike Bannon, California Apartment Association, executive director
Mom-and-pop resi landlords are already struggling
Mom-and-pop resi landlords are already struggling
An illustration of David Lee
A boomtown for a bygone era: Koreatown developers face a reckoning
A boomtown for a bygone era: Koreatown developers face a reckoning
arrow_forward_ios

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

Loading...