A local multifamily developer hopes to replace a Mid-City triplex with a five-story apartment building with some low-income units.
South Orange Grove Avenue LLC, an entity managed by investor Yoav Atzmon, has filed plans to bulldoze the single-story triplex at 1450 S. Orange Grove Ave. in Los Angeles, according to the Commercial Observer.
The World War II-era triplex would be replaced by an apartment building with 16 units, according to an application with the Los Angeles Department of City Planning.
The five-story structure would be sheathed with cantilevered balconies, topped by a rooftop deck, and include semi-subterranean parking for 29 cars, according.
The developer has requested a zoning variance to add increased height and reduced side yard setbacks according to the city’s Transit Oriented Communities guidelines.
The guidelines, which aim to spur construction of affordable housing near public-transit, stem from the voter-approved Measure JJJ passed in 2016.
In exchange for the variance, three of the apartments would be set aside as affordable housing for renters who earn extremely low income, or roughly 30 percent of the median income in the region.
Ketter Construction serves as architect and project representative for the proposed Mid-City apartments, one of numerous developments it is working on in the region. Most of them replace single family homes with either small multifamily buildings, or larger mixed-income projects.
In 2018, Atzmon filed for approvals to build a 24-unit apartment complex at 2310 W. Ocean View Ave. in Westlake. The project had similar transit-related entitlements that set aside four units for very low-income residents.
In recent weeks, numerous developers have filed applications to build apartments, a trend that comes amid a tight housing market in Southern California.
The New York-based Tishman Speyer is planning to build 620 apartments and offices on 3.1 acres in Downtown Santa Monica it bought for $150 million. According to the deal announced this month, 19 percent of the units — or 116 —
will be classified as affordable.
Last month, Westwood developer Farzad Essapour’s Luxurious Properties filed plans to build 48 apartments on a largely vacant property in South Los Angeles. It wants to set aside five units for affordable housing for renters at the extremely low-income level.
[Urbanize Los Angeles] – Dana Bartholomew