Wiseman Residential has broken ground on a 77-unit apartment complex in Venice.
The Sawtelle-based developer has started building the four-story complex at 1600 East Venice Boulevard, Urbanize Los Angeles reported.
The development approved by the Los Angeles Planning Commission in 2020 is a block west of Venice High School.
Wiseman bought the property for $5 million in March 2019, then demolished an aging apartment building.
Plans call for 77 apartments built above parking for 43 cars, topped by a rooftop patio and wrapped around a central courtyard.
Transit Oriented Communities incentives allow Wiseman to add more density than zoning rules permit in exchange for seven apartments to be set aside as affordable for extremely low-income tenants.
The project, designed by Robert James Taylor Architects of Glendale, would be sheathed in white stucco and gray bricks, with ochre balconies and accents, according to a rendering.
Wiseman builds and manages around 30 properties mostly on the Westside and in Hollywood, according to its website. The company founded by Isaac Cohanzad hasbeen taken to task by historic preservation advocates for demolishing architectural gems across Los Angeles.
Also, the company has evicted hundreds of tenants from rent-controlled properties in Los Angeles, according to the Los Angeles Times.
Wiseman is currently building another apartment complex in Venice – a five-story building with 50 units over ground-floor shops and restaurants at 1808 Lincoln Boulevard.
— Dana Bartholomew
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