A developer is planning an 88-unit apartment complex in Koreatown, a neighborhood that continues to see steady construction despite the pandemic.
Jonathan Harouni filed plans with the city for the six-story project at the corner of Normandie Avenue and 1st Street, Urbanize reported. The property sits on a half-acre of land, occupied by small apartment buildings and single-family homes. Six rent-stabilized units would be demolished to build the new complex.
Harouni is seeking entitlements through the city’s Transit Oriented Communities program, including a density bonus, height increase, and parking space reduction. In exchange for those incentives, Harouni would set aside eight units as affordable.
Koreatown saw more development than almost any other neighborhood in L.A. in recent years. As of this summer, there were four times as many rental units in development in the 90005 ZIP code than in the average L.A. County ZIP code.
The early days of the pandemic led to a brief slowdown in Koreatown development, but plenty of new projects have cropped up since then.
An application was filed in September for a 51-unit TOC project and a month later a developer filed plans for a 96-key hotel https://therealdeal.com/la/2020/10/20/developers-plan-96-key-koreatown-hotel/ on Menlo Avenue.
Prolific Koreatown developer Jamison also filed plans for a 150-unit complex in November. [Urbanize] — Dennis Lynch
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