CIM Group is looking to increase density at an under-construction housing development in Hollywood.
The Los Angeles-based developer has filed new plans with the Department of City Planning to add an eighth floor to its 6007 Sunset Boulevard development to create a total of 172 apartments, Urbanize Los Angeles reported. CIM’s project was approved in 2022 as a seven-story building containing up to 109 studio, one- and two-bedroom units above 14,600 square feet of ground-floor retail and parking for 196 vehicles.
In order to be eligible for expansion incentives, CIM is looking to provide 19 units of affordable housing at the extremely-low-income level, up from 14 very-low-income units in the approved plans. For individuals, extremely-low-income is generally limited to an annual income of $31,350, while qualifying very-low-income individuals make less than $53,000 a year.
The 6007 West Sunset Boulevard project is across the street from the 23-story Lumina Hollywood Apartments, which was initially developed by CIM Group. New owner Morguard Corporation is planning to add 36 new apartments there to replace vacant offices and parking, Urbanize Los Angeles reported.
CIM’s proposed expansion in Hollywood is its latest effort to bump up housing capacity at its planned residential developments. In Mid-Wilshire, the firm is calling for the construction of a two-story building with 50 apartments on the former Farmers Insurance campus at 715 South Hudson Avenue. CIM acquired the four-block campus in 2014 and has previously sought to redevelop two of the blocks there with condominiums and single-family homes.
Similar to its efforts on Sunset Boulevard, CIM is seeking a development bonus via the Citywide Housing Incentive Program’s Opportunity Corridors initiative, which allows for builders to pursue higher density projects than they would normally be permitted under usual zoning regulations; in exchange, CIM will designate six apartments for extremely-low-income households.
— Chris Malone Méndez
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