Entity linked to jeweler plans 75-unit multifamily project in Westlake

Los Angeles /
Oct.October 26, 2018 11:00 AM
831-837 S. Westlake Avenue

A company tied to a Downtown Los Angeles jeweler is planning a 75-unit multifamily development in Westlake.

The eight-story building is planned for 831-837 S. Westlake Avenue and will include six stories of housing above two stories of parking, according to permit applications filed with the Los Angeles Department of Building and Safety.

The project would replace two multifamily buildings. It includes an unspecified number of units set aside as affordable through the city’s Transit Oriented Communities program, which provides density bonuses and other incentives for projects near transit that include affordable units.

The entity that owns the property is linked to the Nourizad family, which owns Ninacci Incorporated, a jeweler on S. Hill Street. It first purchased the properties between August 2016 and February 2018 for a total of around $2.7 million.

Earlier this month in Westlake, developer Lifan Group secured a density bonus needed for a 29-story, 306-unit apartment project on W. 7th Street after setting aside 34 units for low-income renters.

The 75-unit building in Westlake is the third large TOC project filed this week. Haroni Investments LLC filed for a 128-unit project and a 64-unit project in South L.A. as well.


Related Articles

arrow_forward_ios
Ben and Jonathan Rocca (Google Maps)

Rocca Development plans 81-unit rental complex in Hyde Park

Rocca Development plans 81-unit rental complex in Hyde Park
Continuum CEO Mark Falcone and a rendering of the project (EYRC Architects via Urbanize)

Continuum Partners, Platinum Equities plan Arts District office tower

Continuum Partners, Platinum Equities plan Arts District office tower
Rendering of 577-unit District Square project in South L.A. (Los Angeles Department of City Planning, iStock)

Judge orders LA to reconsider Charles Co.’s District Square project

Judge orders LA to reconsider Charles Co.’s District Square project
14645 Bessemer Street (Google Maps)

Developer plans 71-unit apartment complex in Van Nuys

Developer plans 71-unit apartment complex in Van Nuys
From left: Abraham Zackary, Jacob Zackary, and Shawn Zackary, with 1017-1031 S Mariposa Avenue (Credit: Google Maps)

Zackary Brothers plans 100-unit development in Pico-Union

Zackary Brothers plans 100-unit development in Pico-Union
Forme Development President Damon Chan and rendering of 550 Shatto Place (Forme, Gensler via Urbanize)

Going up: Koreatown tower project developers boost plans

Going up: Koreatown tower project developers boost plans
Herb Wesson (top) and Curren Price with a rendering of 3800 W 6th Street (Linkedin, Twitter, Large Arch)

LA officials backtrack on aid for Koreatown hotel project

LA officials backtrack on aid for Koreatown hotel project
Richard Llewellyn and Ron Galperin (City of LA, Wikimedia)

LA’s ballooning budget shortfall could require property selloff

LA’s ballooning budget shortfall could require property selloff
arrow_forward_ios

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

Loading...