UPDATED: 1:45 p.m. August 30, 2022
A developer wants to build a seven-story, 184-unit apartment complex in Lincoln Heights — a project that would represent a significant turn toward density for the Northeast L.A. neighborhood.
The project, called Mission and Lincoln Apartments, comes from the L.A.-based developer Shay Yadin, the principal of the firm Brenner Capital. Yadin filed the application several weeks ago through the an entity called Lincoln Park Holdings; the application was registered with the planning department late last week.
(Rendering via Brenner Capital)
“We really believe housing is needed in Los Angeles,” Yadin said. He added that the project would also increase the neighborhood’s vibrancy by adding density, and that his team was in touch with the nearby USC-affiliated medical center.
“They just don’t have a lot of good [housing] options,” he said of the hospital staff, because the area hasn’t seen much development for decades.
The property is located at 3601-3615 Mission Road and 2010-2036 Lincoln Park Avenue, a mostly residential area on the northern border of Lincoln Park. The site is currently a parking lot for an adjacent business, according to planning documents. The developer’s seven-story apartment complex would rise atop two levels of parking, and include 137 market-rate units and 47 units reserved for very low income tenants, a stipulation that should help qualify the project for various density bonuses.
Lincoln Park Holdings bought the 1.2-acre property in October for $13.7 million, records show. The seller was the Pacific Alliance Medical Center, a Chinatown hospital that shut down in late 2017 and later reopened as an outpatient clinic.
(Rendering via Brenner Capital)
Lincoln Heights, a mostly Latino neighborhood just east of Downtown L.A., is comprised mostly of single-family homes but could be emerging as a new multifamily development hotspot. Earlier this year 4Site Real Estate, a Westlake-based developer, broke ground on a five-story complex in the neighborhood, along the L.A. River; that developer also is building another mixed-use project across the street.
Correction: This article previously suggested a New York firm, 18 Main, was involved with the project. It is not involved. The article was also updated to include comments from Yadin.
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