Eleos plans to build 221 affordable apartments in South Park

Beverly HIlls-based developer’s seven-story complex would replace commercial buildings

Eleos Plans 221 Affordable Apartments in South Park
Eleos Ventures' Daniel Dayan and David Aghaei with 4800 South Main Street in Los Angeles (Eleos Ventures)

Eleos Ventures plans to build a 221-unit affordable apartment building in L.A.’s South Park.

The Beverly Hills-based affordable housing developer led by David Aghaei and Daniel Dayan have filed plans to build the seven-story complex at 4800 South Main Street, Urbanize Los Angeles reported. It would replace a strip of commercial buildings.

The project, known as Elea, would be built on two-thirds of an acre at Main and 48th Street, east of the 110 Freeway.

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Plans include 220 affordable apartments for moderate- and very low-income households, plus a manager’s unit.

The white apartment complex would feature inset balconies trimmed in violet, salmon and orange, according to a rendering, with a rooftop deck and floor-to-ceiling windows on the ground floor.

It’s the third project by Eleos in South Park, following a 187-unit complex planned for 5001 South Broadway, according to Urbanize. The developer is also building a 38-unit affordable complex at 5637 South Broadway, according to TRD.

Eleos, founded in 2020, plans to build 20 affordable housing projects across Los Angeles, according to its website. That total includes a 42-unit complex now under construction at 228 North Soto Street in Boyle Heights.

— Dana Bartholomew

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