Skya Ventures seeks to build nearly 200 apartments in Koreatown

Gelt-affiliated developer’s Skya Crenshaw would feature three eight-story buildings

Skya Ventures eyes nearly 200 apartments in Koreatown
Skya Ventures' Gelena Skya-Wasserman with a rendering of plans for 1102-1128 South Crenshaw Boulevard, Los Angeles (KFA Architecture, Skya Ventures)

Skya Ventures wants to build 194 apartments in Koreatown.

The Brentwood-based developer led by Gelena Skya-Wasserman has filed plans to build three, eight-story apartment buildings at 1102-1128 South Crenshaw Boulevard, Urbanize Los Angeles reported. The project would replace a vacant lot.

Plans for the complex, dubbed Skya Crenshaw, call for 194 studio, one-, two- and three-bedroom apartments, including six live-work units, above 3,500 square feet of ground-floor shops and restaurants, with parking for 160 cars.

Skya seeks density bonus incentives to build a larger building than allowed by local zoning rules in exchange for 23 affordable units for very low-income households.

The white and salmon complex, designed by Culver City-based KFA Architecture, will be sheathed in stucco and brick. The apartment buildings, to be connected by sky bridges, include balconies on the seventh and eighth floors, according to a rendering.

Terrace decks would be added to the second and third floors and rooftops. Two courtyards would face Crenshaw Boulevard.

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Skya bought the eight-parcel property on Crenshaw Boulevard in 2022 for $12 million. 

The firm chose to build three separate buildings because of large storm drain easements which cut through the site. The prior landowner had won approval to build 38 single-family homes.

The proposed apartment complex is the third in a recent string of mixed-income developments planned for Crenshaw. just south of Olympic Boulevard, according to Urbanize.

Across the street, locally based Jamison Services plans to build two buildings with more than 150 apartments.

Skya, a unit of Tarzana-based Gelt founded in 2008, has acquired or built 15,000 homes, according to its website, including in Highland Park and East Hollywood. In 2021, the firm bought a 162,000-square-foot office complex in Ventura for $24.3 million.

— Dana Bartholomew

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