Mixed-use project with 244 resi units adds to Warner Center’s rapid development

The neighborhood’s recent rezoning plan has led to a flurry of investment, including the latest on West Victory Boulevard

TRD LOS ANGELES /
Dec.December 18, 2018 09:00 AM
The existing commercial building at 21201 W. Victory Boulevard (Credit: iStock and Google Maps)

Another large residential project is in the works in Warner Center.

A Montecito-based entity filed plans for a 244-unit mixed-use development at 21201 W. Victory Boulevard, city records show.

The seven-story project would include 61 live-work units and a total of about 246,000 square foot. Around 50,500 square feet would be “non-residential,” including 16,800 square feet of office space. It would include 219 parking spaces.

An existing low-rise commercial building on-site would be demolished.

The applicant is Levine Family Properties LLC, based in Montecito, property records show. It is controlled by Mark Schwartz, according to city Planning Commission records.

The property is mostly surrounded by commercial developments, including office buildings, but there are other apartment complexes nearby. San Diego investment firm MG Properties Group paid $93 million in October for a 264-unit multifamily complex about a half mile away at 6301 De Soto Avenue.

The Victory Boulevard project adds to the flurry of development plans to surface in the last week within the Warner Center 2035 Specific Plan area. The Specific Plan rezoned much of the Warner Center area to encourage more residential and mixed-use projects, with the goal of creating a downtown area. The area is currently dotted with apartment complexes, but dominated by large commercial developments included the Westfield Topanga mall.

More than 2,500 residential units are currently in the pipeline in Warner Center, but none of them are designated as affordable. The city is looking into ways to push more affordable development, including a measure to the 2035 plan requiring a certain number of units be set aside as affordable at new developments.

Last week, Bolour and Associates purchased a three-acre commercial site on Oxnard Street with a preliminary plan for a 380-unit project. Representatives there said it could also continue to rent out the existing commercial space.

And this week, plans surfaced for a 1.27-million-square-foot eldercare facility on a large swath of land owned by defense contractor Northrop Grumman.


Related Articles

arrow_forward_ios
Architect Simon Park and a rendering of the project (Credit: SSPSTUDIO ARCHITECTURE & URBAN DESIGN)

Boyle Heights slated for another mixed-use project

Monica Rodriguez orchestrated the nixing of a residential project set for the Verdugo Hills Golf Course (Credit: Google Maps, Wikipedia)

The threat of fire doomed this Tujunga resi project. Now the developer will sue

A rendering of the property, Cityview CEO Sean Burton and Virtu Investments principals Michael Green and Scott McWhorter (Credit: LCP 360) 

Virtu pays $71M for Warner Center complex in Opportunity Zone

6550 South Normandie Avenue (Credit: Google Maps)

Haroni Investments to turn parking lot into new apartments

Council President Herb Wesson and a rendering of District Square

City will draw up “anti-displacement zone” ordinance

Governor Gavin Newsom and Senator Nancy Skinner (Credit: Getty Images and iStock)

Developers rejoice: Newest state law aims to boost housing production

Assemblyman David Chiu and Gov. Gavin Newsom (Credit: Wikipedia and iStock)

California passes landmark rent control law

Ron Galperin and an overview of LA (Credit: iStock)

LA owns thousands of properties, many of them vacant. LA’s controller has an idea to spur development

arrow_forward_ios
Loading...