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
Shaheen Sadeghi with  RTHM Long Beach (Shaheen Sadeghi, Brandywine Homes)
Retail visionary Shaheen Sadeghi sees resi in his future
Retail visionary Shaheen Sadeghi sees resi in his future
No asking price, numerous offers as Rancho Palos Verdes campus hits market
No asking price, numerous offers as Rancho Palos Verdes campus hits market
No asking price, numerous offers as Rancho Palos Verdes campus hits market
Rendering of 2641 West Olympic Boulevard (CORbel Architects)
K-town developer envisions new hotel on Olympic
K-town developer envisions new hotel on Olympic
Developer Ilan Kenig and a rendering of 702 North Crescent (Nest Seekers Int'l, FMB Development, iStock)
Spec developer eyes $35M manse in place of Beverly Hills teardown
Spec developer eyes $35M manse in place of Beverly Hills teardown
LVMH CEO Bernard Arnault along with a rendering of Cheval Blanc (LVMH, City of Beverly Hills Planning Division)
LVMH gets go ahead for hotel on Rodeo Drive
LVMH gets go ahead for hotel on Rodeo Drive
Rendering of 314/324 West 45th St, Los Angeles (PQNK, iStock)
Developer plans all-affordable complex in South LA
Developer plans all-affordable complex in South LA
Macerich's Thomas O’Hern, Carson Mayor Lula Davis-Holmes and Simon's David Simon with rendering of Los Angeles Premium Outlets (City of Carson, Macerich)
Simon Property, Macerich to restart work on 400K sf outlet in Carson
Simon Property, Macerich to restart work on 400K sf outlet in Carson
Jamison's Jaime Lee and a rendering of 626 South Kingsley Drive (LA City Planning, Connect Conferences)
Jamison’s latest Ktown project gets planning OK
Jamison’s latest Ktown project gets planning OK
arrow_forward_ios

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

Loading...