The Fountains apartment complex on Ventura Canyon, one of the sites being rezoned
Los Angeles wants to rezone a portion of Panorama City, allowing for denser development with more residential units, as the city continues to find efforts to increase its housing stock.
The three parcels of land include seven addresses on Ventura Canyon and Woodman avenues, which are now home to a 57-unit garden apartment complex and a number of commercial properties. A zone change was filed with the Department of City Planning on Monday.
If approved, the new zoning measure would allow for medium density residential and optional ground-floor commercial space, up to around four stories. A maximum of 108 residential units per acre is allowed under the proposed zoning, which means the 2.3-acre site could see at most 246 units if they were both redeveloped.
The properties are about a mile from the Van Nuys Amtrak and Metrolink commuter rail station and a mile and a half from Route 170. There are bus stations nearby, but it’s not clear if they would qualify for any additional density bonuses under city programs that encourage building affordable housing near transit stations.
The properties are owned by different entities. The representative for the owner of the apartment complex, LA Apartments, said he had not heard about the rezoning. LA Apartments acquired the property from the Laramar Group for $7.5 million in 2015. The other parcels are owned by a Calabasas family trust that could not be reached for comment.
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