Here are the under-50 resi projects proposed in LA last week

The two biggest are near MacArthur Park in Westlake

Dec.December 12, 2018 05:00 PM
From left: 2347 W. Ocean View Ave., 2310 W. Ocean View Ave., and 1633 S. Camden Avenue (Google Maps)

Developers filed for three projects under 50 units each in Los Angeles last week.

If completed, the apartment buildings would add 52 units to the city’s housing stock. Two of the projects, both of which are located in Westlake, include affordable housing components.

This week’s filings represent a drop from the five projects proposed earlier this month, which are slated to add 120 units across L.A.

1. 2310 West Ocean View Avenue | Westlake | 24 units

An individual named Yoav Atzmon, acting behind an entity, filed for approvals to build 24 units at 2310 Ocean View Avenue in Westlake. The project, which would rise near the Westlake/MacArthur Park Metro station, would qualify under Tier 3 of the Transit Oriented Communities program. The developer has proposed setting aside four units for very low-income residents, in exchange for a density bonus and reduced open space requirement. Property records show Atzmon paid $850,000 for the property in June.

2. 2347 West Ocean View Avenue | Westlake | 20 units

Another developer also filed plans to build a multifamily complex on Ocean View Avenue, located just a few steps away. Triwest Development, a real estate development firm based in El Segundo, is planning to build a 20-unit building at 2347 West Ocean View Avenue in Westlake. The 18,700-square-foot project would be five stories and include two units for extremely low-income residents. The firm paid $830,000 to acquire the property in March, property records show.

3. 1633 South Camden Avenue | Westwood | 8 units

In Westwood, a developer named Siavash Showghi is proposing to build a four-story building at 1633 South Camden Avenue. Applying through an LLC named Camden Holdings, Showghi is requesting approvals to build eight units in a 45-foot tall building. There would also be an underground parking level with space for 17 cars and 12 bicycle stalls. Showghi paid $2.3 million for the property in July 2017, property records show.

Related Articles

From left: Gavin Newsom and David Chiu (Credit: Getty Images and iStock)

Will rent control dent the multifamily market? Lenders, investors weigh in

Developer Pinyon Group’s 486-unit project would sit two blocks away from the Heritage Square Gold Line.

Developers of massive Lincoln Heights resi project change tack to collect city incentives

Lee Rubinoff and the development site

This Transit-Oriented developer is eyeing his latest apartment project in Echo Park

420 West 9th Street, San Pedro (Credit: Google Maps and iStock)

San Pedro’s apartment project pipeline is filling up

David Nagel

Decron Properties, in multifamily expansion mode, pushes into Warner Center

Mill Creek Residential CEO William MacDonald and Modera West LA (Credit: iStock)

One of nation’s biggest apartment builders scores $165M refi on West LA development

From left: Canyon Crest Views Apartments and Sunset Ridge Apartments

Multifamily investor Afton Properties adds nearly 1K units to portfolio

Blackstone CEO Stephen Schwarzman and TruAmerica CEO Robert Hart

Blackstone digs deeper into SoCal with massive rental portfolio buy