A 51-unit apartment building could replace a low-rise commercial building on Reseda Boulevard in Northridge.
An unidentified developer filed plans to demolish a medical office at 8940 N Reseda Boulevard earlier this week. The developer requests approval for a five-story multifamily project.
The site is close to the Cal State Northridge campus and eligible for Tier 1 Transit Oriented Communities incentives, although the filing does not specify if any incentives are requested. The program allows developers to build denser and reduce open space, for example, in exchange for reserving some units for low-income renters.
The apartment building would be the first residential building to rise on the surrounding stretch of Reseda Boulevard. Symphony Development is working on a 128-unit project about a mile north of the project site, even closer to the Cal State Northridge campus.
An entity controlled by individuals Yoel Wazana and Uzi Levy purchased the property in late 2015 for $2.2 million with a $1.3 million acquisition loan. Levy declined to comment, while Wazana could not be reached for comment. The entity — 8940 Reseda LLC — is headquartered in nearby Van Nuys, according to state records.
The post Developers eye Northridge site for 51-unit apartment complex appeared first on The Real Deal Los Angeles.
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