A full-block redevelopment plan in Koreatown is seeking city approval this week.
Hankook Property Management wants to build a 228-unit apartment building with 53,500 square feet of commercial uses at 1000 South Vermont Avenue, at the intersection of W. Olympic Boulevard, according to documents found by Urbanize.
The seven story building, which would have 565 parking spaces, has been in the works since 2016.
The Hannam Place development would include a mix of studio, one-, and two-bedroom units, with 30,800 square feet of commercial space designated for a supermarket.
The market will presumably be another outpost for Hannam. Kee Whan Ha, the owner of Hankook and a food chain, is a well-known businessman in the Koreatown community who helped organize neighbors to defend the community during the 1992 Los Angeles riots.
Hannam Place would replace a gas station, 32 apartment units, and about 9,000 square feet of commercial space. Hankook bought the 38,200-square-foot parcel in 2011 for $5.6 million.
Koreatown is experiencing a boom in redevelopment projects, large and small. Local mainstay Jamison Services has steadily filed new residential projects in the neighborhood over the last few years. Most recently the developer filed for a 226-unit project on St. Andrews Place and revised its plans for a mixed-use development on S. Western Avenue. [Urbanize] – Dennis Lynch