Big resi complex planned for Koreatown would add to construction surge

The development's newly-released renderings show 252 units with commercial space

TRD LOS ANGELES /
Oct.October 12, 2018 09:00 AM
Renderings of the project at 3170 W. Olympic Boulevard

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 


Related Articles

arrow_forward_ios
California State Senator Scott Wiener and Construction Trades Council President Robbie Hunter

Construction union pulls “anti-Semitic” Scott Wiener attack ad

Construction union pulls “anti-Semitic” Scott Wiener attack ad
Federal authorities charged developer Serena Shi in an alleged $20 million EB-5 scam

Coachella condo project at center of $20M alleged EB-5 fraud

Coachella condo project at center of $20M alleged EB-5 fraud
An illustration of Jeanne Radsick and 525 S. Virgil Avenue (Credit: Google Maps)

California Association of Realtors’ new role? Mixed-use developer

California Association of Realtors’ new role? Mixed-use developer
California State Senator Scott Wiener

Coronavirus could hurt LA’s density push

Coronavirus could hurt LA’s density push
Renters across LA are at their wits end with construction and renovations (Credit: iStock)

LA renters stuck at home are fed up with ‘disruptive’ construction projects

LA renters stuck at home are fed up with ‘disruptive’ construction projects
Mayor Eric Garcetti and SoFi Stadium Justin Sullivan and Scott Varley/MediaNews Group/Torrance Daily Breeze via Getty Images)

LA will shut down construction sites that don’t follow COVID-19 guidelines

LA will shut down construction sites that don’t follow COVID-19 guidelines
CGI’s Gidi Cohen and the Fedora Street project

CGI scores $48M in construction financing for Koreatown multifamily project

CGI scores $48M in construction financing for Koreatown multifamily project
The Koreatown Plaza is hitting the market (Credit: Google Maps)

Venerable Koreatown Plaza is up for sale

Venerable Koreatown Plaza is up for sale
arrow_forward_ios

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

Loading...