• 0
  • Home
  • About Us
  • What We Do

Shopping Cart

GPAM
  • Home
  • About Us
  • What We Do

Koreatown’s new multifamily map

Illustration of Vermont Lofts project at 966 South Vermont Avenue and rendering of 626 South Kingsley Drive (LA City Planning, Connect Conferences, SO.LA, Inc.)
Illustration of Vermont Lofts project at 966 South Vermont Avenue and rendering of 626 South Kingsley Drive (LA City Planning, Connect Conferences, SO.LA, Inc.)
Leaflet map created by Adam Farence | Data by © OpenStreetMap, under ODbl.

Population density for one of the City of Angeles’ most densely populated neighborhoods is getting…denser.

Since September, developers have either submitted or received approval for plans to build nearly 2,000 apartments in Koreatown, with about 100 of them classified as “affordable” or “extremely low-income housing” based on the local median incomes. to an analysis by The Real Deal.

The projects are poised to add to the density in K-town, which covers nearly three square miles of central area of the city and clocks. Its population density of around 43,000 per square mile puts it closer to Manhattan’s 68,000 or so than the estimated 7,500 for the rest of Los Angeles.

Teh Jing Wang and Alchemy Planning, 966 South Vermont Avenue

Teh Jing Wang, the property owner, working with Alchemy Planning, filed plans to tear down a Chinese restaurant and replace it with a six-story, 77,000-square-foot residential building with 90 apartment units.

Jamison Properties, 626 South Kingsley Drive

The Los Angeles planning department approved Jamison Properties’ mixed-used project for a seven-story, 127 residential unit building — 108 of which will be studios. Property records show Jamison paid $6 million for the property in February 2021.

Bando Dela Corp., 3377 West Olympic Boulevard

Bando Dela Corp. has proposed a seven-story, 153-unit apartment building, with 16 slated as affordable. The developer plans to demolish the existing, vacant restaurant.

Berendo, 636 South Berendo Street

Berendo has proposed a 22-story, 343-unit building that would include a 7,210-square-foot rooftop deck, fitness center and library.

Villas at Westmoreland LLC, 430 South Westmoreland Avenue

Westmoreland LLC plans a seven-story, 45-apartment building at 430 South Westmoreland Avenue, a few blocks from the Wilshire/Vermont light-rail station. The property is currently vacant.

Townline, Forme Development and Urban Offerings, 550 Shatto Place

The Los Angeles City Council unanimously approved a 40-story, 367 apartment building with a mix of studio, one-, two-, and three-bedroom units. 42 units would be set aside for low-income renters.

Housing Diversity Corporation and STS Construction, 603 South Mariposa Avenue

The two Seattle based developers have partnered on a plan to bring nearly 100 micro-apartments to Koreatown. Housing Diversity Corporation and STS Construction filed plans to build an eight-story, 92-unit apartment building. Housing Diversity paid $4.2 million for the property in January 2021.

ELK Development, 728 South Manhattan Place

ELK Development filed plans to build a 60-unit apartment complex, six of which will be affordable units. Plans include a 5,300-square-foot roof deck and 1,200 square feet of ground-floor common areas. An entity linked to ELK paid $2.2 million for the property. ELK received a $3 million loan from MRV banks.

L.A.’s K-town isn’t alone in the rush on multifamily––construction is picking up pace in various markets across the country.One example: developers have poured hundreds of millions into Miami’s neighborhoods, such as Brickell, Edgewater and Wynwood. And a caveat: Data from L.A. has recently flashed signs of a slowdown moving forward as hikes on interest rates hit the market.

[contact-form-7 404 "Not Found"]

The post Koreatown’s new multifamily map appeared first on The Real Deal Los Angeles.

Powered by WPeMatico

  • 01 July 2022
  • The Real Deal
  • Uncategorized
  •  Like
Long Beach to size up Queen Mary in wake of failed redevelopment plan →← Tracy Do leaves Compass for Coldwell Banker Realty
  • Recent Posts

    • Post-wildfires, shipping containers, 3D-printed homes provide temporary shelter May 9, 2025
    • Archer snack company leases 351K sf Dodger dog factory in Vernon May 9, 2025
    • One in three distressed borrowers handing back buildings, experts say May 9, 2025
    • LA County greenlights self-certification for Altadena rebuilding May 8, 2025
    • Irvine Company aims to transform golf course into village of 3K homes May 8, 2025
  • Recent Comments

    • Archives

      • May 2025
      • April 2025
      • March 2025
      • February 2025
      • January 2025
      • December 2024
      • November 2024
      • October 2024
      • September 2024
      • August 2024
      • July 2024
      • June 2024
      • May 2024
      • April 2024
      • March 2024
      • February 2024
      • January 2024
      • December 2023
      • February 2023
      • January 2023
      • December 2022
      • November 2022
      • October 2022
      • September 2022
      • August 2022
      • July 2022
      • June 2022
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • December 2019
      • November 2019
      • October 2019
      • September 2019
      • August 2019
      • July 2019
      • June 2019
      • May 2019
      • April 2019
      • March 2019
      • February 2019
      • January 2019
      • December 2018
      • November 2018
      • October 2018
      • September 2018
      • August 2018
      • July 2018
      • June 2018
      • May 2018
      • April 2018
      • March 2018
      • February 2018
      • January 2018
      • December 2017
    • Global Property and Asset Mangement, Inc.
      137 North Larchmont
      Los Angeles, California 90010
      +1 213-427-1127

    © 2025 GPAM