Big resi complex planned for Koreatown would add to construction surge

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

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
Downtown Burbank's Transit Oriented Development Specific Plan (Photo via Downtown Burbank TOD/City of Burbank)
Burbank’s downtown specific plan could add thousands of units of housing around its Metrolink station
Burbank’s downtown specific plan could add thousands of units of housing around its Metrolink station
A rendering of the project with East End Capital managing principals Jonathon Yormak and David Peretz. (Relativity Architects, East End Capital)
East End Capital to convert cold storage into movie studio
East End Capital to convert cold storage into movie studio
(Proper Hotel, Google Maps)
Downtown LA’s Proper Hotel to open in July after years of delays
Downtown LA’s Proper Hotel to open in July after years of delays
J.H. Snyder partner Lon Snyder with One Museum Square. (J. H. Snyder, One Museum Square)
JH Snyder lands $172M loan on new luxury rental tower
JH Snyder lands $172M loan on new luxury rental tower
Mariposa on 3rd
CGI Strategies secures $42M loan on Koreatown apartment complex
CGI Strategies secures $42M loan on Koreatown apartment complex
Councilman John Lee and 10243 N. Topanga Canyon Boulevard (Facebook/CouncilmemberJohnLee, Google Maps)
Housing project for homeless vets gets pushback
Housing project for homeless vets gets pushback
Continuum Partners CEO Mark Falcone and the development site (Continuum, iStock, Google Maps)
Continuum Partners plans $2B megaproject to transform Arts District
Continuum Partners plans $2B megaproject to transform Arts District
Rendering of the project (Forme)
41-story Koreatown tower project clears key city hurdle
41-story Koreatown tower project clears key city hurdle
arrow_forward_ios

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

Loading...