Lifan Group secures key approval for 29-story Westlake apartment tower

Chinese developer needed density bonus for the 306-unit project

Los Angeles /
Oct.October 08, 2018 10:00 AM
A rendering of Lifan Tower (Credit: the Department of City Planning)

A Chinese developer has secured a density bonus it needed to move forward on a 29-story Westlake project.

The Department of City Planning approved a 35 percent density bonus for Lifan Group’s Lifan Tower. The 306-unit tower planned for 1247 W. 7th Street, at the corner of Witmer Street, would be one of the larger Westlake developments in recent years.

It will include 5,700 square feet of ground floor commercial space and 34 units will be set aside for “very low income” renters.

Nearly half of all units will be one-bedrooms, but there will also be studio, two-, and three-bedroom apartments.

A pool deck is planned for the sixth floor. There will also be a gym, rec rooms, and meetings rooms. MVE + Partners is designing the tower.

Lifan Group, which is primarily a motorcycle and auto manufacturer, purchased the roughly one-acre parcel in early 2016 for $19.1 million through an entity based at Lifan motorcycle dealership in Ontario, Canada. At the time, the property was entitled for a 33-story condo tower with 200 units. It demolished a 21,000-square-foot low-rise office building there shortly after.

Lifan Tower would be one of the larger recent developments in Westlake. The City Council approved a plan earlier this year for a large mixed-use project with 478 units near MacArthur Park. Newport Beach-based PacTen Partners is also looking to build a 140-unit condo tower at Wilshire Boulevard and Lucas Avenue.

Lifan Group is privately owned and one of the largest automakers in China. It delivered 133,000 vehicles in 2017 and has a market capitalization of $870 million valued in Chinese Yuan.


Related Articles

arrow_forward_ios
Six Peak's Director of Development Derek Sanders and the development site (Six Peak, Google Maps)

Six Peak Capital affiliate plans 110-unit apartment in Westlake

Six Peak Capital affiliate plans 110-unit apartment in Westlake
Continuum CEO Mark Falcone and a rendering of the project (EYRC Architects via Urbanize)

Continuum Partners, Platinum Equities plan Arts District office tower

Continuum Partners, Platinum Equities plan Arts District office tower
Rendering of 577-unit District Square project in South L.A. (Los Angeles Department of City Planning, iStock)

Judge orders LA to reconsider Charles Co.’s District Square project

Judge orders LA to reconsider Charles Co.’s District Square project
Forme Development President Damon Chan and rendering of 550 Shatto Place (Forme, Gensler via Urbanize)

Going up: Koreatown tower project developers boost plans

Going up: Koreatown tower project developers boost plans
Herb Wesson (top) and Curren Price with a rendering of 3800 W 6th Street (Linkedin, Twitter, Large Arch)

LA officials backtrack on aid for Koreatown hotel project

LA officials backtrack on aid for Koreatown hotel project
Richard Llewellyn and Ron Galperin (City of LA, Wikimedia)

LA’s ballooning budget shortfall could require property selloff

LA’s ballooning budget shortfall could require property selloff
California Gov. Gavin Newsom (Credit: Justin Sullivan/Getty Images)

Newsom signs into law slate of tenant protection and housing measures

Newsom signs into law slate of tenant protection and housing measures
Michael Rosenfeld,,Simon Reuben and David Reuben, with a rendering of Century Plaza (Credit: Presley Ann/Getty Images, and Dave Benett/Getty Images)

Michael Rosenfeld’s Woodridge Capital lands $275M loan for Century Plaza

Michael Rosenfeld’s Woodridge Capital lands $275M loan for Century Plaza
arrow_forward_ios

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

Loading...