New developer, new plan: Apartments eyed for Pico Union after hotel is blocked

A 126-unit building is proposed following a labor union's success at stopping a hotel construction

Apr.April 29, 2019 01:00 PM
Car wash site at 2870 Olympic Boulevard (Credit: Google Maps and iStock)
Car wash site at 2870 Olympic Boulevard (Credit: Google Maps and iStock)

Last October, a labor union successfully blocked plans to develop a six-story hotel in Pico Union. Now, the property’s new owner wants to try something different.

Perri Lee, acting through an LLC, is requesting approval to build a new 126-unit apartment building at the same site, according to documents published with the city.

Of the 126 units, 13 would be set aside for extremely low-income residents. An existing auto repair shop and single-family home would have to be demolished to make way for the new development.

Plans for the site at 2870 West Olympic Boulevard reflect a stark contrast to what the building’s previous owner, David Lo, had envisioned.

In 2015, he filed plans to build a 120-room hotel with 6,100 square feet of retail space at the site. After securing approvals last September, he was blocked by UNITE HERE Local 11, which appealed the project. The union claimed the construction’s environmental impact analysis did not comply with state regulations.

Property records indicate that Lo then sold the development site in December for $15 million to 2870 O Consortium, an entity Lee controlled. Lee, who is also tied to an escrow company based in Koreatown, did not respond to requests for comment.

Related Articles

Terranea Resort President Terri Haack and the resort

Resort owner Long Point Development spends big to defeat worker protection ballot measure

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

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

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

5800 Green Valley Cir, Culver City (Credit: Google Maps)

Jones & Jones buy multifamily property in bustling Culver City