Mapleton Properties plans 207-unit complex in Palms
Development on Culver City border would rise across from Sony Pictures Studios
Mapleton Properties is planning to build a 207-unit apartment complex in Palms, across from Sony Pictures Studios.
The project site is located at 1003-10015 West Washington Boulevard on the border of Culver City, according to Urbanize.
The proposed U-shaped apartment building would be seven stories with a central courtyard on Washington Boulevard. Units are planned as a mix of studio, one- and two-bedroom apartments. Nineteen units would be set aside as affordable, according to the report.
Beverly Hills-based Mapleton bought the parcels for the development in 2014 and 2018 at a total cost of $18.3 million. The new development would replace a bank and a low-rise commercial building dating from the 1920s.
Because the site is within L.A. city limits, the project is eligible for entitlements through the city’s Transit Oriented Communities program. The TOC program allows developers to request entitlements such as a density bonus or open space requirement waiver in exchange for reserving some units as affordable.
Last month, California Landmark Group filed for a TOC project down the street at Washington Boulevard and Motor Avenue. Three similar residential projects were filed in Palms in 2018.
Mapleton also bought a 27-unit mid-rise apartment complex nearby in 2018 for $15.7 million. [Urbanize] — Dennis Lynch