An individual with ties to multifamily developer TDC Pacific Properties has proposed a new, 40-unit building in Koreatown.
The seven-story building at 502 S. Harvard Boulevard would also include three units for extremely low income residents, according to documents published Tuesday with the Department of City Planning.
In exchange for the affordable housing — and for building near two Metro stations — the developer is requesting greater flexibility with the open space and yard setback requirements under the Transit Oriented Communities program.
Darryl White, CEO of TDC Pacific, filed the application under the entity MNW Harvard LLC.
The entity paid $2.3 million for the site in December 2017, property records show. An old age home existing on the property was demolished earlier that year.
Developers have been filing a growing number of plans to build in Koreatown, one of the denser neighborhoods in Los Angeles. Last month, a new firm named Brooklyn Cos. made its first big purchase in the neighborhood, spending $11 million to acquire a 45,000-square-foot property on Western Avenue. The family-run firm plans to spend another $2.4 million on upgrading the apartment building, which will be rebranded to the St. Charles.