A new high-rise apartment tower may soon overlook the 101 in Hollywood.
DM Development and Alex Massachi of Massachi Industries are proposing a 128-unit apartment building at 1717 Bronson Avenue, according to plans filed with Los Angeles City Planning. Twelve of the units will be set aside as affordable.
The 24-story tower will consist of full units and “micro-suites” — smaller studios — said DM Development’s Mark MacDonald and Massachi. Similar to co-living spaces, the studios will be furnished and will surround a communal living room and kitchen.
The duo is planning to start construction toward the end of next year, with an opening slated for the third quarter of 2024.
MacDonald said the developers want the building to “be accessible for a range of incomes,” unlike many of the existing luxury buildings in Hollywood.
The developers are in escrow to buy the site for the proposed tower from MCAP Development, owned by Massachi’s family firm. The price was not disclosed.
The tower will replace an existing parking lot and is located on the same site as the Lombardi House — a private event space with four “villas” available for rental — which MCAP also owns.
The firm detailed plans in 2014 to build around 80 units at the site. Instead, Massachi teamed up with DM Development to take advantage of California’s density bonuses, which allows developers to add more units to a site in exchange for setting aside a certain amount as affordable.