search

The Real Deal Logo

Trending

HGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loanH-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
Development
Los Angeles

Another big apartment complex planned for Van Nuys

Project would pack more than 200 units over first-floor retail

The Van Nuys apartment building at 7115-31 Van Nuys Boulevard in Van Nuys (City of LA Planning, Getty)
The Van Nuys apartment building at 7115-31 Van Nuys Boulevard in Van Nuys (City of LA Planning, Getty)

A development team wants to build a major apartment complex in the San Fernando Valley neighborhood of Van Nuys, an area that’s experiencing plenty of residential construction interest.

The project, referred to in planning documents as Van Nuys Apartment Building, would rise five stories but would still be more horizontal than vertical, spanning nearly 200,000 square feet.

The project applicant is Benjamin Golshani, an investor who is also the president of a Downtown L.A.-based linen company. Golshani, who did not immediately respond to a request for comment, appears as the manager of the project entity; the property owner is a trust that bought the site in 2011 for $950,000. Golshani then got involved in 2019 by lending the trust $1.4 million, records show. The application was scanned into planning records on Thursday.

The property is located between Van Nuys Boulevard and Sherman Circle, a few blocks north of Van Nuys’ central business district, which stretches around Victory Boulevard.

Renderings for the project show a mostly white and tan structure with numerous balconies and geometric cutouts, as well as a first-floor deck with trees. Its 214 apartments — 190 market rate and 24 affordable — would occupy the second through the fifth floors, while the first would be reserved for 16,000 square feet of retail in addition to parking. The complex would have two underground parking lots, for a total of around 200 spaces.

Sign Up for the undefined Newsletter

In order to build, the developers will first demolish two restaurants.

The developers’ cranes will have plenty of company: Van Nuys, like much of the San Fernando Valley, is still cheaper than central and West L.A. and has recently seen something of a multifamily boom. In July, Alliant Strategic filed plans for a 332-unit complex on Van Nuys Boulevard, the same month that Uncommon Developers filed plans for a 405-unit project on Sepulveda Boulevard.

The next month developer Jonathan Azal filed plans for a 120-unit complex on West Sylvan Street, across the street from another Azal project. He also has another in the works.

“I see Van Nuys as the new NoHo, the downtown of the San Fernando Valley,” Azal said earlier this year.

Read more

Tags
DevelopmentSan Fernando ValleyTransit Oriented Communities