Here are the latest under 50-unit resi projects proposed in LA

Developments would add 182 total units and all include affordable components

May.May 30, 2019 08:00 AM
From left: 1421 West Adams Boulevard and 926 North Kingsley Drive
From left: 1421 West Adams Boulevard and 926 North Kingsley Drive

All of Los Angeles County’s top five most recent proposed residential projects with fewer than 50 units have at least one thing: affordable units. Each of the proposals have set aside at least some affordable units in their construction plan, a move that helps the affordable housing crisis and also allows developers to receive city incentives.

All five projects qualify for the city’s Transit-Oriented Communities program, which awards incentives to developers for adding projects near public transportation.

If approved, the projects would include a total of 182 units — with the top one adding 46 units.

The list is compiled based off planning documents from the Department of City Planning and records on PropertyShark.

1421 W. Adams Boulevard | Adams-Normandie | 46 units

An individual named Henry Fan filed plans to build a five-story apartment that would include 3,600 square feet of ground floor commercial space. He filed through URSA 1421 Adams Blvd LLC. Fan purchased the property for $3.6 million in March 2018. The project is located on a 10,000-square-foot lot in the Adams-Normandie area, where a 4,400-square-foot bookstore is currently located. The project qualifies for tier-3 TOC bonus incentives.

926 N. Kingsley Drive | East Hollywood | 37 units

Edgar Zaylan with Lexington Projects LLC filed plans with the city for the East Hollywood location. Four of the units will be designated for very low-income residents. The property at 926 N. Kingsley Drive is owned by Lexington Projects LLC and Crescenta Management LLC, which is managed by Albert Khachikyan. The two entities purchased the property in March for $1.3 million. The project qualifies for Tier-2 TOC incentives, which allows the development to increase its height from 30 feet to 41 feet. The plan calls for the demolition of an existing five-unit building at the location, just off the Hollywood Freeway.

5801 W. Camerford Avenue | Hollywood | 36 units

Craig Berberian, founder of the Sawtelle-based Empire Property Group, wants to build a 42,000-square-foot development just north of Melrose Avenue near Larchmont Village. It will include five units set aside for affordable housing. Berberian purchased the property through Empire at Larchmont LLC for $2.2 million in June 2018. It now has a 3,000-square-foot apartment building with four units on the property. The development qualifies for tier-1 TOC incentives, allowing an 11-foot height increase. It also is located in a designated Opportunity Zone.

336 W. 7th Street | San Pedro | 32 units

Virtual Post Solutions, which runs SBD Real Estate Six LLC, filed plans to build a mixed-use apartment building in San Pedro. The project would be five stories high and include ground floor commercial space. It currently holds a restaurant and cocktail lounge, which sold in March 2018 for $1.7 million. The project is located in an Opportunity Zone, and also qualifies for tier-2 TOC bonuses.

1300 S. Westwood Boulevard | Westwood | 31 units

Developer Mehdi Mossazadeh is planning to build an apartment building in Westwood. He purchased the property, which is now a 6,800-square-foot parking lot, in June 2018 for $3 million. The development qualifies for tier-4 TOC incentives. It will include 27 market rate units and four units for extremely low-income residents. Mossazadeh is applying for a height increase to 75 feet high, as well as a 25-percent reduction in open space. Earlier this year, Mossazadeh listed a “shovel-ready” development with 65 units in East Hollywood while also applying for a variance that would be required to begin the project.

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