HVN Development Proposes More Apartments in Studio City

HVN Development is pursuing more affordable housing in the San Fernando Valley.

The Irvine-based affordable housing developer has secured permits from the Los Angeles Department of Building and Safety for a new five-story multifamily building at 12025 West Hoffman Street in Studio City, Urbanize Los Angeles reported.

The Stockton Architects-designed development would replace a low-slung multifamily building with 78 units in a five-story edifice. HVN, as it does with all of its projects, is utilizing density bonus incentives to build a larger structure than zoning rules would typically allow. In exchange, the development will be fully affordable to low- and moderate-income renters — the latest in a growing trend of developers pursuing 100 percent affordable projects that would be eligible for streamlined approval and review exemptions under Los Angeles’ Executive Directive 1.

The multifamily building would rise near the distressed Radford Studio Center, which Netflix is reportedly in the process of purchasing. HVN is pursuing several developments in Studio City, including a 102-unit development at 12434 Moorpark Street and a 131-unit five-story building at 11143 Acama Street.

Elsewhere in the Valley, late last year, HVN secured permits from the Los Angeles Department of Building and Safety for a five-story, 91-unit affordable project at 10953 Whipple Street in Toluca Lake. That project, like its latest Studio City play, is designed by Stockton Architects and seeks to utilize density bonus incentives and ED1-backed approvals. It also received permits for another affordable housing project at 11218 West Califa Street in North Hollywood late last year.

HVN has been working to get shovels in dirt for other affordable multifamily projects in Los Angeles County this year. Last month, the firm filed an application to demolish two apartment buildings in Mar Vista and replace them with a five-story, 81-unit building at 11848 Venice Boulevard. In March, it filed an application for another five-story development on the Westside with 77 units at 8811 South Reading Avenue in Westchester.

— Chris Malone Méndez