As construction in Koreatown continues apace, another mixed-use project is advancing.
Development firm Choi Bo Sung, Inc. wants to build a 252-unit residential building with 32,000 square feet of commercial, which would rise on 3170 W. Olympic Boulevard. The developer released renderings of the seven-story building, and the environmental impact report was completed, according to Urbanize.
The project would be a mix of studio, one-, and two-bedroom apartments. There would be underground parking for 311 vehicles.
As planned, the building would cover 95 percent of the lot. The site is now zoned for up to 129 apartments, but Choi Bo Sung has requested density bonuses from the city that would raise the number to 252. The increase would require the developer to set aside 46 units as affordable. Amenities include a swimming pool and a rooftop deck.
The project would replace a strip of single-story commercial spaces. Farther on east, at 1000 S. Vermont Avenue, Hankook Property Management is planning a similarly-scaled mixed-use project.
Choi Bo Sung Inc. and an affiliated firm, CBS Property Group, filed for the project in 2016, two years after purchasing the site for $7.8 million, or $591 per square foot. The firm owns the Rotex Hotel and Condo a few blocks west of the proposed construction. [Urbanize] — Dennis Lynch