Olympic-Barrington Partnership Eyes 51 Units in Studio City

Olympic-Barrington Partnership wants to build 51 apartments in Studio City.

The West Hollywood-based developer has filed plans to build a five-story complex at 12750 Moorpark Street, Urbanize Los Angeles reported. It would tear down a 1,500-square-foot stucco home, built in 1940.

Plans call for a rectangular building with one-, two- and three-bedroom apartments — with no on-site parking.

Olympic-Barrington wants to employ density bonus incentives to allow a larger building than permitted by zoning rules. The number of potential affordable units was undisclosed.

The gray-and-white building, designed by Culver City-based JZA Architecture, would have corner balconies and a rooftop deck.

Olympic-Barrington bought the three-bedroom home and 0.2-acre lot in March last year for $1.8 million, according to Trulia.

The proposed development would be built three blocks north of the Los Angeles River and a proposed 520-unit apartment complex to replace a Mid-century Modern hotel at the Sportsmen’s Lodge at 12825 Ventura Boulevard.

Olympic-Barrington Partnership, led by David and Matthew Parvizyar, owns more than 45 commercial units and seven RV parks, with more than 180 tenants, according to its website.

In 2020, Beverly Hills developer Parviz Parvizyar, affiliated with OBP, pitched a plan to replace an 18-unit apartment complex in West Los Angeles with another complex with 68 apartments at 10448-10460 Santa Monica Boulevard.

Parviz Parvizyar, then head of Coffee Tree Vacaville, has developed in both Northern and Southern California.

More than a decade ago, a company controlled by Parvizyar converted an empty Elk Grove warehouse into a Strikes Family Entertainment Center.

Parvizyar also has been associated with several limited partnerships, including La Cienega Cadillac, EGSC and Maggie Lane Development, which sold a Redlands.-based office center for $12.25 million in 2017.

— Dana Bartholomew