This Vancouver developer is bringing a 200-unit resi project to Koreatown

The developer is setting aside a portion of market-rate units as affordable
June 17, 2019 10:09AM

Bastion Development Corporation Executive Vice President Reid Kaufmann and the Koreatown project

Bastion Development Corporation Executive Vice President Reid Kaufmann and the Koreatown project

Bastion Development Corporation has the go-ahead to build a 209-unit apartment complex and retail space in Koreatown.

The Vancouver-based developer got the approval from the Los Angeles City Planning Commission, according to Urbanize. Bastion filed plans for the project in early 2018.

Called The Heights, it consists of two seven-story buildings that will rise on two lots across from each other on South Manhattan Place, at the corner of Olympic Boulevard.

Bastion sought a density bonus from the city and is reserving 16 units for “very low-income” renters. Around 3,300 square feet of retail space is planned along Olympic Boulevard.

It is one one of many now in the works in Koreatown. Bastion’s plans land somewhere in the middle of the pack in terms of number of units. Apartment building developments of 50 units or below are the most common in the neighborhood, and include a 52-unit proposal in the works a few blocks away on St. Andrews Place. That property is connected to an individual named Ha Seoup Bang, who is acting under an LLC.

Those types of proposals are usually undertaken by smaller, local developers.

Koreatown still has major development underway and in the planning stages, however, including from Urban Commons, which recently acquired a 1.4-acre site on Crenshaw Boulevard. Jamison, one of L.A.’s most prolific developers, has several projects dotted around the neighborhood. [Urbanize]Dennis Lynch