Developer gears up to build 79-unit resi project in Hyde Park

Haroni Investments to take advantage of incentives offered under the “transit-oriented communities” program

5144 South Crenshaw Boulevard (Credit: Google Maps)
5144 South Crenshaw Boulevard (Credit: Google Maps)

South Los Angeles developer Haroni Investments has filed plans for a 79-unit mixed-use apartment in Hyde Park – the latest in a string of housing projects it’s developing.

The developer wants to reserve eight units for low-income residents in the proposed five-story mixed-use building, according to property records. The 4,700-square foot site, located at 5144 S Crenshaw Blvd., is currently occupied by a tire shop. Records show that Haroni Investments picked up the Hyde Park property for $1.5 million in August 2018 and took out a $900,000 mortgage with Cathay Bank.

The site is eligible for density bonuses and other incentives as part of the city’s Transit Oriented Communities program, which provides incentives that encourage market-rate developers to include affordable units in projects located near transit hubs.

Sign Up for the undefined Newsletter

The program aims to streamline the development process and incentivize affordable housing development by implementing a section of Measure JJJ, which was passed by L.A. voters in Nov. 2016.

Eric Kaczelnik, a project manager with Haroni Investments, was not immediately available to comment.

Haroni Investments has been active in South L.A. in recent years. In 2017, Haroni filed plans for a 73-unit apartment project at 6109 S. Crenshaw Blvd., in the Fashion District. In January 2019, the developer filed plans for a 93-unit apartment building at 6100 S. Hoover St., also in the Fashion District. It also has two other projects with a combined 200 units under development within two miles of the S. Hoover Street site.