The Real Deal Los Angeles

Safco Capital plans 130-unit mixed-use project in Westlake

The 2-building project to include separate retail portion and 13 affordable units
By Dennis Lynch |
Research by Haru Coryne
November 16, 2018 08:00AM

253-255 S. Burlington Avenue (Credit: Google Maps)

Safco Capital Corporation is planning a 130-unit mixed-use project in Westlake.

An entity tied to Safco President John Safi filed plans for the project at 253-255 S. Burlington Avenue on Wednesday. The filing calls for a six-story building with 13 units set aside for “extremely low-income” renters and a separate retail building at the southeast corner of the property, where Burlington Avenue meets 3rd Street.

The property includes a parking lot for a nearby supermarket and a vacant lot to the north. Safco paid $17.9 million for the property in early 2017.

Safi told The Real Deal that the residential element will include studios, one- and two-bedroom apartments, as well as a gym. The firm expects construction to start in mid-2019.

Safco seeks bonuses through the city’s Transit-Oriented Communities program, which provides density bonuses and other incentives to developers who incorporate affordable units in projects near to transit. The program has proven popular with developers.

Last month a developer linked to a local jeweler filed a 75-unit project in Westlake with TOC bonuses.