Anaheim developer plans 51 units for Koreatown

Plans call for replacing two buildings with just seven dwellings between them

Los Angeles /
Sep.September 28, 2020 01:00 PM
944-952 S. Dewey Avenue (Credit: Google Maps)
944-952 S. Dewey Avenue (Credit: Google Maps)

A developer out of Anaheim is planning to replace a pair of multifamily buildings in Koreatown with a 51-unit Transit-Oriented Communities complex.

RKC Development, using a limited liability company called RKC Dewey, filed plans for the project with the Los Angeles Department of City Planning last week.

The filing calls for a five-story building across two properties spanning 944-952 S. Dewey Avenue near the corner of San Marino Street. The two lots, which RKC acquired last October, total 11,800 square feet. One is home to a three-unit building and the other has a four-unit building.

Koreatown has seen a steady stream of development over the last several years in response to strong demand for housing in the area. There is concern among developers and market watchers that the coronavirus pandemic could bring rents down to the point that some new projects there will no longer pencil out.

The RKC project would include six units reserved for “extremely low-income” renters, which provides the developer with perks through the city’s TOC program.

In exchange for renting out a percentage of units at below-market rates, developers can choose from a number of entitlements including a density bonus and a reduction in required open space. The application for Dewey Street does not indicate which ones RKC will seek.

The developer could not be immediately reached for comment. RKC Dewey LLC is based in Anaheim and controlled by Rachel Choi. The developer is working with design and architecture firm Andmore Partners, which has been involved with similar infill projects in Koreatown and around the L.A. area.


Related Articles

arrow_forward_ios
Jamison Properties' Jaime Lee and rendering of 3000 Wilshire Boulevard, Koreatown (Jamison Services, USC Lusk, Getty)
Jamison to raze building for 188 apartments in Koreatown
Jamison to raze building for 188 apartments in Koreatown
Jamison Properties' Jaime Lee with the Pierce National Life Building (LinkedIn, Google maps)
Koreatown office building poised for residential conversion
Koreatown office building poised for residential conversion
Jamison Properties' CEO Jaime Lee with 626-634 St. Andrews Place (LinkedIn, Jamison Properties)
Jamison breaks ground on 230-unit complex in Koreatown
Jamison breaks ground on 230-unit complex in Koreatown
Optimus Properties co-founders Kamyar Shabani and K. Joseph Shabani with the property at 4256 W. 2nd Street in Koreatown (Optimus Properties LLC, RentCafe)
Optimus Properties buys seven apartment buildings in core of LA
Optimus Properties buys seven apartment buildings in core of LA
A photo illustration of the planned Vermont Lofts project at 966 South Vermont Avenue (SO.LA, Inc., iStock)
Goodbye Dragon, hello housing: Yet another apartment complex planned for Koreatown
Goodbye Dragon, hello housing: Yet another apartment complex planned for Koreatown
Rendering of 2641 West Olympic Boulevard (CORbel Architects)
K-town developer envisions new hotel on Olympic
K-town developer envisions new hotel on Olympic
Jamison's Jaime Lee and a rendering of 626 South Kingsley Drive (LA City Planning, Connect Conferences)
Jamison’s latest Ktown project gets planning OK
Jamison’s latest Ktown project gets planning OK
3377 West Olympic Blvd (Google Maps)
K-Town developer proposes 7-story apartment complex
K-Town developer proposes 7-story apartment complex
arrow_forward_ios

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

Loading...