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.