A 4.7-acre site in Woodland Hills is under new ownership and slated to become part of a fully affordable housing development in Warner Center.
An affiliate of Wellpointe Incorporated purchased 6400 Canoga Avenue from Sandstone Properties for an undisclosed amount, the Los Angeles Times reported. The site has already been proposed for a 650-unit, 35-story high-rise market-rate residential tower and a four-story, 240-room luxury hotel.
Those previous plans, by Sandstone, are expected to be scuttled, instead making way for 100-percent affordable housing in a mixed-use development as part of the ongoing makeover of the Warner Center district, according to the Times. Initial planning is already underway as Wellpointe seeks to bring fully affordable residences, separate high-rises and unspecified mixed-use elements for public use. Additional details including design and construction timelines will be disclosed as the project moves through the entitlement process.
Wellpointe is looking to “deliver quality housing at scale with a focus on affordability,” said George Kutnerian, CEO of Wellpointe, said, per the Times. The Warner Center purchase is part of the company’s goal of providing “access to high-density, quality housing and social infrastructure that is complementary to the area’s transformation.”
The city’s Warner Center 2035 Specific Plan calls for turning the area within downtown Woodland Hills into an all-purpose entertainment and residential district in the San Fernando Valley. The Kroenke Organization is planning a 52-acre mixed-use development known as Rams Village at Warner Center, which will include the permanent headquarters for the Los Angeles Rams; residential, retail, office and open space; and indoor entertainment venues.
In December, the Los Angeles City Council approved the first housing project to take advantage of density bonus incentives in the Warner Center Specific Plan area. Toll Brothers has proposed demolishing offices at 6464 Canoga Avenue and replacing it with an eight-story building with 276 apartments and 8,600 square feet of ground-floor retail space. The developer will be required to designate 21 apartments for very low-income households. — Chris Malone Méndez
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