Canfield Development wants to build an 85-unit apartment building on Santa Monica Boulevard in East Hollywood.
The eight-story complex would rise at 4750 W. Santa Monica Boulevard at the corner of N. New Hampshire Avenue, according to Urbanize. The complex would replace a single-family home and a small commercial building.
That’s a block away from the Vermont/Santa Monica Metro Red Line station, where the Little Tokyo Service Center is planning housing. Canfield took advantage of that through the city’s Transit Oriented Communities program.
The TOC program provides entitlements such as density bonuses and open space reductions for developments near transit that rent a certain number of units below market rate.
Those incentives are more significant the closer a project is to transit. Canfield requested increased height and floor area beyond zoning and will set aside 10 units for “extremely low-income” renters, according to Urbanize.
The residential units are planned as a mix of studio, one-, two-, and four-bedroom units. There’s also about 1,200 square feet of retail space planned, as well as 72 parking spaces across two basement levels.
Canfield has four projects under construction in the L.A. area, including a 73-unit student housing complex near the University of Southern California that has a projected completion date next year. [Urbanize] — Dennis Lynch