Echo Park developers look to double the size of shovel-ready resi project

New investors want to build a 77-unit construction, through city's Transit-Oriented Communities program

Nov.November 30, 2018 09:00 AM
Site of proposed 77-unit project at 1275 W. Sunset Boulevard (Credit: Google Maps and iStock)

The new owners of an Echo Park property that is shovel-ready for a modest 31-unit apartment building are thinking bigger.

The group of investors wants to build a 77-unit construction at 1275 W. Sunset Boulevard, according to a Department of City Planning filing. The team acquired the property in March for $2.8 million.

The site is majority-owned by Farid and Faranhez Amid, who together own 66 percent. David Joseph Simhaee owns 17 percent and Enayat and Lisa Simhaee own the remaining 17 percent, according to the filing.

Last year, Marcus & Millichap listed the property as entitled for the 31-unit construction. In addition to the additional units, the application includes a request to increase the height of the project by 11 feet, doing so through the city’s Transit-Oriented Communities program. The program was created to encourage denser projects near public transportation hubs in exchange for setting aside a portion of the units as affordable.

TOC bonuses have been popular with several other recently proposed plans in Echo Park, which has been flush with multi-family applications this year. A 62-unit proposal on Sunset Boulevard and another 47-unit project at Rosenell Terrace are both seeking TOC add-ons.

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