5891 W. Olympic Boulevard (Credit: FreeStockPhotos.biz)
A Beverly Hills developer is planning a six-story multifamily project near Little Ethiopia that leans on the Transit Oriented Communities program.
A filing for the project calls for a 46-unit structure with five units set aside for low-income renters. The project is slated for a parking lot at 5891 W. Olympic Boulevard, at the corner of S. Spaulding Avenue. The lot is 6,700 square feet.
The developer is an entity run by Emanoel Sadighpour, whose company bought the property for $2.1 million in 2014.
The city’s TOC program, which started last fall, provides developers with density bonuses and other incentives for building affordable units near major transit options. Developers have filed for more than 1,000 affordable units through the program as of July.
Sadighpour is requesting a 70 percent increase in density, a boost in floor-to-area ratio, and a reduction in the number of required parking spaces, down to 23. He also is asking for an additional 22 feet in height to build up to 67 feet. While the property abuts a single-family neighborhood, it’s also near a number of taller commercial structures along Olympic Boulevard.
Multifamily development is chugging along in the area. Amoroso Companies wants to build a 123-unit project on W. Pico Boulevard. David Neman also wants to build a 54-unit mixed use property in nearby Beverly Grove.
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