The Real Deal Los Angeles

New details emerge for 21-story mixed-use tower in Koreatown

The project is linked to a local EB-5 regional center and restaurateur Chul Heay Shin
November 08, 2018 11:00AM

Renderings of the 21-story project at 3800 W. 6th Street

UPDATED, Nov. 8, 5:16 p.m.: A new 21-story mixed-use project is slated to rise in Koreatown.

A draft environmental impact report details a tower with 122 condominiums, and a neighboring eight-story structure with a 192-room hotel, and just under 14,500 square feet of retail space, according to Urbanize. Retail space would occupy the first two floors of the latter structure and the hotel would occupy the floors above it.

L.A.-based LARGE Architecture is designing the project, slated for 3800 W. 6th Street.

The entity developing the property shares an address with Gateway Secured, a Koreatown EB-5 regional center. Local restaurateur Chul Heay Shin purchased the site in 2015 for $10 million. The entity entered the scene in April 2016, buying a 50 percent stake in the property, and five months later bought Shin out for $2.6 million, according to property records.

Shin appears to still be involved, showing up in planning documents for a 16-story hotel and condo tower filed there early last year. Shin is also working on a 200-room hotel development on Olympic Boulevard.

Alice Walton, whose firm represents the Gateway project, said Shin does not have any involvement in the 21-story project.

The development would replace low-rise commercial space, including an auto service center. It would span the north end of a block along Sixth Street between S. Serrano Avenue and Hobart Boulevard.[Urbanize] – Dennis Lynch