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

Jun.June 17, 2019 10:09 AM
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 

Related Articles

L.A. City Attorney Mike Feuer and a rendering of the Koreatown project (Credit: Getty Images)

LA sues Koreatown developer Michael Hakim

Kodo in Koreatown

Just built, just sold: CGI Strategies finds buyer for new Koreatown rental complex

L.A. Councilman Herb Wesson and an empty lot Rosewood Corp. is looking to build on (Credit: Getty Images and Google Maps)

Koreatown tower developer gave city council president’s son a deal on rent: report

Michael Sorochinsky, Steven Fifield, Mike Parrell, and Next on Sixth

Big deal: Sam Zell’s Equity Residential buys 398-unit Koreatown resi complex

Top to bottom: a rendering of the project and a photo of the site at 3170 West Olympic Boulevard (Credit: Google Maps)

Koreatown hotelier sells shovel-ready development site entitled for 252 units

Jamie Lee of Jamison and the property

Multifamily developer Jamison expanding in West LA with development site purchase

Jamison Services' Jamie Lee

Jamison signs post-production firm to long-term lease at Studio City office

From left: Comerica Bank CEO Curtis Farmer, Jamie Lee and 2842 West James Wood Boulevard (Credit: LinkedIn and Google Maps)

Jamison nabs construction loan on another big resi project