Developer Jade Enterprises filed plans to build an apartment project in Hollywood that would have at least 50 units and would include an affordable component that could qualify it for additional units.
The proposal for 7901 W. Sunset Boulevard was made Tuesday, through the company’s director of development, Daniel Taban. The entity on the filing is Skyview Sunset LLC, which is tied to downtown developer Jade.
Jade, which has a number of residential projects in the works in Los Angeles, paid $12.5 million for the property last July, records show.
The project would seek city Transit-Oriented Communities incentives, which could include a density bonus, height increase, and open space reductions to boost the unit count. The TOC program provides those incentives to market-rate projects near transit hubs, in exchange for developers creating a minimum number of affordable units. Generally that amount is 10 percent of the total units. Jade’s filing does not specify what incentives the company is seeking nor how many units the firm plans to set aside as affordable.
A representative for Jade could not be reached for comment. The developer has a handful of other projects in the works. In November, it won approval for a mixed-use project in the Arts District. That development would have 110 live-work apartments — 11 set aside as affordable — about 113,000 square feet of office space and 51,000 square feet of additional commercial space. The project includes ground-up construction and adaptive reuse of existing buildings at the site.
In 2018, Jade secured approvals for a 379-unit project in the Fashion District and filed plans for another 363-unit project in the neighborhood.
The post Jade Enterprises plans apartment complex in Hollywood appeared first on The Real Deal Los Angeles.
Powered by WPeMatico