Multifamily investor files plans for 58-unit complex in MacArthur Park
USAHomes Rental Properties — RK Development — is seeking Transit Oriented Communities incentives through the city
A local firm tied to an multifamily investor has filed plans for a 58-unit apartment building in MacArthur Park.
RK Development — through USAHomes Rental Properties — wants to build the complex at 2716-2724 West James M. Woods Boulevard, city planning documents show.
Woodland Hills-based RK Development purchased the two existing multifamily buildings on that property last summer for $2.8 million.
It is requesting entitlements through the city’s Transit Oriented Communities program. The TOC program allows developers to build larger projects by forgoing some open space and setback requirements, in exchange for setting aside a percentage of units as affordable.
Project plans were made by CEO of USAHomes, Ravivo Kaofman, via RK Development, records show. USAHomes did not immediately return a request for comment.