Tiger West upsizes Hancock Park apartment project

Developer now wants to build 63 units, with a portion set aside as affordable

Los Angeles /
Jul.July 28, 2021 10:45 AM
Tiger West founder Daniel Farasat with the location for the project (Google Maps, Tiger West)
Tiger West founder Daniel Farasat with the location for the project (Google Maps, Tiger West)

Tiger West Capital wants to add nearly 25 units to its planned Hancock Park apartment project, seeking the change through the city’s Transit-Oriented Communities program.

Increasing the unit count to 63 at the 7000 Melrose Avenue project would also mean setting aside an additional amount as affordable, according to Urbanize.

The new proposal includes 6,600 square feet of ground-floor retail space and three levels of underground parking.

Tiger West plans the apartments as a mix of one- and two-bedroom units. The TOC program allows developers to exceed certain parameters set by zoning in exchange for reserving a percentage of units as affordable in a development near transit. The general minimum is 10 percent of total units. In this case, going from 40 to 63 would likely require an additional two or three units be set aside as affordable.

Mika Design Group’s design for Tiger West’s new project is a U-shaped building of six stories around a central courtyard. Plans call for a rooftop pool and deck area.

[Urbanize] — Dennis Lynch






    Related Articles

    arrow_forward_ios
    ELK Development founder Evan Kasper and renderings of 728 South Manhattan Place (ELK, OFFICEUNTITLED)
    ELK Development plans 2nd Koreatown apartment complex
    ELK Development plans 2nd Koreatown apartment complex
    Jim Rosten of Benedict Canyon Equities and The Retreat apartment complex in Santa Clarita (The Retreat, BCE)
    Benedict Canyon nabs tidy profit on Santa Clarita apartment complex
    Benedict Canyon nabs tidy profit on Santa Clarita apartment complex
    Bell Partners CEO Jon Bell and Bell Warner Center (Bell Partners, Bell Warner Center)
    Bell Partners buys 394-unit complex in Canoga Park
    Bell Partners buys 394-unit complex in Canoga Park
    Renderings of the project and Brookfield Properties Managing Partner and CEO Brian Kingston (Brookfield, Los Angeles Department of Building & Planning)
    Brookfield plans 350-unit apartment complex at Northridge shopping center
    Brookfield plans 350-unit apartment complex at Northridge shopping center
    340 S. La Fayette Park Place (Rent)
    MC Investment is buyer behind 100-unit Rampart Village complex
    MC Investment is buyer behind 100-unit Rampart Village complex
    Sola Impact's Martin Muoto and 11001 Vermont (LinkedIn, The Architects Collective)
    Sola Impact plans another 80-unit Opportunity Zone project
    Sola Impact plans another 80-unit Opportunity Zone project
    Fairfield Residential CEO Greg Pinkalla and Madison at Town Center (Fairfield, Marcus and Millichap)
    Apartment giant Fairfield Residential pays $62M for Valencia complex
    Apartment giant Fairfield Residential pays $62M for Valencia complex
    Newly built Koreatown apartment complex asks $35M
    Newly built Koreatown apartment complex asks $35M
    Newly built Koreatown apartment complex asks $35M
    arrow_forward_ios

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

    Loading...