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

The top 5 proposed developments would add 183 total units of housing

Los Angeles /
Jul.July 15, 2019 05:00 PM
Clockwise from top left: 1141 S. Crenshaw Boulevard, 719 S. Hoover Street, 411 S. Hamel Road, 1721 S. Colby Avenue and 3839 W. Washington Boulevard (Credit: Google Maps)
Clockwise from top left: 1141 S. Crenshaw Boulevard, 719 S. Hoover Street, 411 S. Hamel Road, 1721 S. Colby Avenue and 3839 W. Washington Boulevard (Credit: Google Maps)

The top five residential projects of under 50 units proposed in Los Angeles County include four rentals and one condo complex.

The total would 183 units to the county’s housing stock, including at least 56 new units of affordable housing, records show. One of the constructions would be a fully affordable project in Mid-Wilshire.

All five of the projects qualify for incentives from the city’s Transit-Oriented Communities program, which gives bonuses to developers of market-rate projects who add affordable housing near public transportation stops.

1141 S. Crenshaw Boulevard | Mid-Wilshire | 43 units
Newport Owners filed plans to build a fully affordable housing project with 43 units and eight parking spaces on an empty lot at the eastern edge of Mid-Wilshire. The five-story building would qualify for tier 4 Transit-Oriented Communities incentives, including height increases and open space reductions. Newport Owners purchased the site in September 2018 for $3.5 million

719 S. Hoover Street | MacArthur Park | 38 units
Through Hoover 719 LLC, Albert Ganjian filed plans with the city to build 38 condo units. Four of the units would be for affordable housing, and it would qualify for tier-3 TOC incentives. It is the only location on the list that is in a federally designated Opportunity Zone, which allows long-term investors to delay capital gains taxes. Ganjian purchased the property in 2015 for $1.4 million.

411 S. Hamel Road | Beverly Grove | 37 units
Bob Etebar with Beverly Hills-based Etco Homes filed plans to build a 37-unit project, just south of West Hollywood. The project would combine five lots into one. It qualifies for tier-2 TOC bonuses. The site was purchased in January 2018 for $19.1 million. Last year, the firm also purchased a 12-unit site at 427 N. Palm Drive in Beverly Hills for $23.3 million.

1721 S. Colby Avenue | West Los Angeles | 34 units
The entity 1721 Colby Ave LP filed plans to demolish residential structures to make way for the 34-unit apartment building. With four units restricted for extremely low-income and two units restricted as very low-income, the project qualifies for tier-1 TOC bonuses. That includes a height and space increase. The property at 1721 S. Colby Avenue is owned by Kaveh Bral, who purchased it in December 2017 for $8.3 million.

3839 W. Washington Boulevard | Mid City | 31 units
Heritage Developments LLC, proposed a 31-unit project at an empty lot in the heart of Mid City. The project would include three units for extremely low-income households, and qualify for tier-2 TOC incentives, including a height increase to four stories. The project would also include ground floor retail. The property is owned by Shalabi Enterprises and Farid “Mike” Shalabi, who purchased it in 1994 for $180,000.


Related Articles

arrow_forward_ios
Actors Fund CEO Joseph Benincasa and a rendering of the project
Actors Fund, Thomas Safran will build $120M affordable housing project
Actors Fund, Thomas Safran will build $120M affordable housing project
Sacramento Mayor Darrell Steinberg (Getty, iStock)
Sacramento city officials propose ending single-family zoning to boost housing
Sacramento city officials propose ending single-family zoning to boost housing
California has generally been behind on housing production for years. (Photo Illustration by The Real Deal, Images via Getty)
Just 3% of California cities will meet housing goals
Just 3% of California cities will meet housing goals
Neil Shekhter (Shekhter by Kevin Scanlon; iStock)
Santa Monica mega-portfolio officially hits market
Santa Monica mega-portfolio officially hits market
Rendering of 1411 South Flower Street (Housing Diversity Corporation)
Micro-housing to rise in DTLA Opportunity Zone
Micro-housing to rise in DTLA Opportunity Zone
NMS Properties' Neil Shekhter and renderings of 1325 6th Street, 1437 6th Street, 1430 Lincoln Blvd. and 1318 Lincoln Blvd. in Santa Monica (Kevin Scanlon, WSC)
City for sale: Shekhter looks to unload mega-portfolio in Santa Monica
City for sale: Shekhter looks to unload mega-portfolio in Santa Monica
Renderings of PATH Villas Hollywood project (PATH)
LA allocates $44M for more than 120 affordable housing units
LA allocates $44M for more than 120 affordable housing units
City Councilman Paul Koretz (Wikipedia Commons, iStock)
Backlash over high cost of tiny houses
Backlash over high cost of tiny houses
arrow_forward_ios

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

Loading...