Last year, Wiseman Residential paid a combined $10.6 million for several properties along West Venice Boulevard in Palms.
Now plans have been filed for a 109-unit apartment complex at that location, according to Urbanize. The proposed seven-story development, at 10610-10628 West Venice Boulevard, would seek incentives through the city’s Transit Oriented Communities program. That allows developers to exceed density restrictions and use other entitlements for projects near transit hubs, and that include affordable units.
Plans call for a ground floor with restaurant space and a two-story garage with apartments above. Architecture firm Uriu & Associates is handling design.
The Los Angeles Department of Buildings is reviewing the proposal to demolish three commercial buildings at the site, according to the report.
Wiseman has pursued entitlements through TOC at least once before, for a 77-unit apartment complex in Venice.
That Venice Boulevard corridor has attracted the eyes of developers in recent years. Developer David Neman is building a six-story apartment project about five blocks east on Venice Boulevard. A few blocks northwest on Overland Avenue, Oakmont Capital is working on a 187-unit project. [Urbanize] — Dennis Lynch