John Safi plans 264-unit project in Westlake

Active LA developer has been expanding the project over last few years

TRD LOS ANGELES /
Sep.September 18, 2020 01:00 PM
West 8th Avenue on South Park View Street (Credit: Google Maps)
West 8th Avenue on South Park View Street (Credit: Google Maps)

Developer John Safi wants to build a 264-unit mixed-use complex in Westlake, and is seeking incentives through the city’s Transit Oriented Communities program.

Safi filed updated plans Thursday through the entity Pacific Parkview LP, records show. The project has been a few years in the making and is near a couple of other residential properties he is developing.

The complex would rise seven stories on a series of lots extending toward MacArthur Park, from the corner of West 8th Avenue on South Park View Street. The site includes a large vacant lot and a church building.

The units are planned as a mix of studio, one-, and two-bedrooms with 27 reserved for low-income renters, Safi said. There would be around 6,000 square feet of ground floor retail space.

Safi — who controls investment firms Pacific Apartment Corp. and Safco Capital — started working on a smaller version of the project several years ago, and has expanded the scope of the project twice, he said. That included acquiring neighboring properties for a larger development and incorporating TOC entitlements.

The city’s TOC program allows developers to boost the size of their project in exchange for reserving a percentage of units for affordable housing. Popular TOC entitlements include waiving setback restrictions and reducing open space requirements.

It’s not the first time Safi has redrawn plans to pursue TOC entitlements — in February 2019 the developer scrapped plans for a 44-unit development a few blocks away on South Coronado Street to pursue a 77-unit project. Safi is also working on a 130-unit project on nearby South Burlington Avenue.

Safco made a pair of large retail investments last March — a leaseback deal in West Hollywood with the owner of Gelson’s Market and the $29.5 million purchase of a South Gate retail complex.


Related Articles

arrow_forward_ios
2107-2121 Westwood Boulevard

Japanese investment firm proposes apartment complex in West LA

Japanese investment firm proposes apartment complex in West LA
The development site for the planned 207-unit complex (Credit: Google Maps)

Mapleton Properties plans 207-unit complex in Palms

Mapleton Properties plans 207-unit complex in Palms
A rendering of the project (Credit: Yorkwood, LLC)

Developer plans 137-unit complex in Hollywood

Developer plans 137-unit complex in Hollywood
Fareed Kanani and Sean Hashem, with a rendering of the project (Credit: HED via Urbanize, and Greenbridge)

Greenbridge Investment plans 169-unit tower in Koreatown

Greenbridge Investment plans 169-unit tower in Koreatown
944-952 S. Dewey Avenue (Credit: Google Maps)

Anaheim developer plans 51 units for Koreatown

Anaheim developer plans 51 units for Koreatown
2716-2724 West James M. Woods Boulevard (Credit: Google Maps)

Multifamily investor files plans for 58-unit complex in MacArthur Park

Multifamily investor files plans for 58-unit complex in MacArthur Park
Ken Kahan and  Ari Kahan of California Landmark Group and the site (Credit: Glenn Koenig/Los Angeles Times via Getty Images, and Google Maps)

California Landmark moves on 112-unit development outside Culver City

California Landmark moves on 112-unit development outside Culver City
Cypress CEO Michael Sorochinsky and 1216-1224 Menlo Avenue (Google Maps)

Cypress Equity plans 128-unit affordable complex in Pico-Union

Cypress Equity plans 128-unit affordable complex in Pico-Union
arrow_forward_ios

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

Loading...