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Hollywood hotel developer Relevant Group is getting in the affordable housing game
The firm is seeking to streamline development for the 150-unit project
Relevant Group, which has been developing luxury hotels in Hollywood, is now in the affordable housing business.
The Hollywood-based firm filed plans to build a 100-percent affordable housing project in South Westlake, seeking a slew of city incentives in the process.
The proposed 150-unit building would rise at 1316-1328 West Linwood Avenue, records show. The plan calls for 142 units for low-income households and eight units for very low-income.
Relevant is seeking to streamline the entitlement process through a measure allows developers to build supportive housing by right. The firm is also seeking a density bonus, height increase, and reduction in the open space minimum.
Relevant purchased the properties through LLCs in June 2018 for a combined $9.44 million.
It is also has four hotel projects within a two-block radius in Hollywood.
The affordable project would be one mile from L.A. Live and the Los Angeles Convention Center, an area that has seen a flood of hotel developments with thousands of rooms in the pipeline. AEG, which owns the Staples Center, is working on a $500-million transformation of the Convention Center, and is also planning to build a 40-story hotel expansion with 850 new rooms at L.A. Live.