From retail to residential: Apartment complex may replace strip mall

242-unit building would rise in Hancock Park and include 10K sf of commercial space

Los Angeles /
Apr.April 28, 2021 10:01 AM
5001 Wilshire Blvd. (Getty, 42 Floors)
5001 Wilshire Blvd. (Getty, 42 Floors)

The owner of an aging strip mall in Hancock Park has plans to replace it with a 242-unit apartment complex.

Through Wilshire Springs LLC, the owner filed plans to demolish the 36,000-square-foot retail center and build an eight-story rental, according to Urbanize. Twenty-five units would be set aside as affordable through the city’s Transit-Oriented Communities program. Attached townhome units are planned for the rear of the building.

The complex, at 5001 Wilshire Boulevard, would include 11,000 square feet of ground-floor retail space.

TCA Architects is designing the project, which will have a U-shaped footprint wrapping a central courtyard. There would also be a roof-deck, along with a gym and club room. Parking would be underground. An alley and a parking lot at the rear of the development site would be cleared to add an 18,000-square-foot green space.

[Urbanize] — Dennis Lynch 


Related Articles

arrow_forward_ios
Laguna Point Properties’ founding principal Barry Shy and 111 W 7th Street (Getty Images, Google maps)
Barry Shy didn’t disclose defects in $400M deal: suit
Barry Shy didn’t disclose defects in $400M deal: suit
Harbor Group International's Jordan Stone and 230 West 3rd Street, 101 Alamitos Avenue and 434 East 4th Street (Harbor Group International, Realtor, Loopnet, Getty)
Harbor Group buys multifamily portfolio in Long Beach for $180M
Harbor Group buys multifamily portfolio in Long Beach for $180M
Dae Yong Lee and a rendering of the new apartment complex in Westlake (LA City Planning, Illustration by Priyanka Modi for The Real Deal with Getty)
Development firm linked to bribery convict plans Westlake apartment project
Development firm linked to bribery convict plans Westlake apartment project
Greenland Holdings’ Zhang Yuliang and the Thea at Metropolis tower (Getty, Thea at Metropolis)
Greenland puts Metropolis apartment tower in DTLA up for sale
Greenland puts Metropolis apartment tower in DTLA up for sale
Ledcor CEO Dave Lede and Build Group CEO Nathan Rundel with 777 East Ocean Boulevard, Long Beach (Shoreline Gateway Living, Build GC, Ledcor)
Developer of Long Beach’s tallest building hit with $3M lawsuit
Developer of Long Beach’s tallest building hit with $3M lawsuit
Langdon Park Capital's Malcolm Johnson (iStock, Langdon Park Capital)
Kennedy Wilson JV spends $37M on first LA multifamily buys
Kennedy Wilson JV spends $37M on first LA multifamily buys
From left: Pacific Urban Investors’ Alfred Pace and SPI Holdings' Dennis Wong with 5807 Topanga Canyon Boulevard (LinkedIn, Trulia)
Pacific Urban picks up Warner Center complex for $415K per unit
Pacific Urban picks up Warner Center complex for $415K per unit
Standard Communities’ Chris Cruz and the 196-unit Heritage Village complex at 707 West Santa Ana Street in Anaheim (Google Maps, About.Me, LinkedIn)
Standard adds three senior affordable housing complexes across California
Standard adds three senior affordable housing complexes across California
arrow_forward_ios

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

Loading...