Developer’s plan for Hollywood resi complex adds to growing collection

Bang Ja Kim wants to build a 64-unit apartment next to a 60-unit property already in the works

TRD LOS ANGELES /
Dec.December 21, 2018 09:00 AM
The lot at 5530 Virginia Avenue (Credit: iStock and Google Maps)

A residential developer has big plans for one block in Hollywood.

Bang Ja Kim has proposed a 64-unit multifamily development at 5530 Virginia Avenue, according to city records. That would stand next door to a 60-unit residential construction he also wants to build, Urbanize previously reported.

His latest filing with the city calls for a six-story building with 10 units set aside for “extremely low income” renters. Kim is asking for incentives through the city’s Transit Oriented Communities program in exchange for the affordable units. He wants a 70 percent density bonus and a parking reduction to 0.5 spaces per unit.

The site is now a parking lot of about 15,000 square feet. Kim is a longtime owner, with property records showing he bought it in 1995 for $450,000.

Major developers in have focused on areas of the neighborhood closer to Hollywood Boulevard, where more dense building is allowed. Many projects in Hollywood have a ground-floor retail component as well.

Last month, Bond Companies filed for a 200-unit residential project with ground-floor retail on Cassil Place.

The most recent Virginia Avenue planned development is typical of TOC projects; they are midsize lot developments around or under 100 units. The city program has been popular, especially in nearby Westlake, Koreatown, and Silver Lake.


Related Articles

arrow_forward_ios
California State Senator Scott Wiener and Construction Trades Council President Robbie Hunter

Construction union pulls “anti-Semitic” Scott Wiener attack ad

Construction union pulls “anti-Semitic” Scott Wiener attack ad
Federal authorities charged developer Serena Shi in an alleged $20 million EB-5 scam

Coachella condo project at center of $20M alleged EB-5 fraud

Coachella condo project at center of $20M alleged EB-5 fraud
Onni Group president Rossano De Cotiis and the site (Credit: Google Maps)

Onni Group plans 14-story office complex in Hollywood

Onni Group plans 14-story office complex in Hollywood
Tani Cantil-Sakauye (Credit: Earl Gibson III/Getty Images)

Landlords sue California over eviction ban

Landlords sue California over eviction ban
Eric Garcetti, Nury Martinez, and Daniel Yukelson (Credit: Marc Flores and Alberto E. Rodriguez via Getty Imahes, Linkedin, and iStock)

LA landlords sue city over residential eviction ban

LA landlords sue city over residential eviction ban
Daniel Yukelson of Apartment Association of Greater L.A. and L.A. City hall (Credit: iStock)

For CA landlords, abysmal is the new normal

For CA landlords, abysmal is the new normal
JADE Enterprises Director of Development Daniel Taban and the development site (Credit: Google Maps)

Jade Enterprises plans apartment complex in Hollywood

Jade Enterprises plans apartment complex in Hollywood
Daniel Yukelson of Apartment Association of Greater L.A. (Credit: iStock)

Landlords fuming over sexual harassment “reports”

Landlords fuming over sexual harassment “reports”
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...