LaTerra Development has moved forward with plans to build 230 apartments in Del Rey.
The Century City-based developer cleared a hurdle after Los Angeles adopted the findings of a sustainable communities environmental assessment for its six-story complex at 4112 South Del Rey Avenue, near Culver City, Urbanize Los Angeles reported. LaTerra would bulldoze a single-story office building to clear space for the project.
Plans call for 210 one, two- and three-bedroom apartments next to a five-story, 282-car garage. Del Rey is a neighborhood in Los Angeles bordered on three sides by Culver City.
The developer seeks density bonus incentives to build a larger building than zoning rules allow in exchange for 18 affordable apartments for very low-income households.
The California Coastal modern-style complex, designed by Downtown-based TCA Architects, would be clad in white, beige and Cape Cod blue, with some units containing floor-to-ceiling windows and balconies, according to a rendering.
The apartments would include a courtyard, a gym and a rooftop pool.
Pending approvals, construction could begin in September and finish by August 2026.
LaTerra bought three creative office buildings once used for manufacturing, including the one at 4112 South Del Rey, in June last year for $37 million, or $1,104 per square foot.
LaTerra is the latest developer aiming to redevelop the industrial blocks east of Lincoln Boulevard in Del Rey.
California Landmark Group has already built numerous projects in the area, such as the recently completed G8 and C1 apartments, according to Urbanize. A 123,000-square-foot commercial campus is now under construction one block to the east on Glencoe Avenue.
LaTerra, known for building apartment and mixed-use complexes across L.A., filed plans last year for three self-storage facilities in North Hollywood, Van Nuys and Mar Vista. In Burbank, the company had a 573-unit apartment complex in development with joint venture partner QuadReal Property Group, and another mixed-use property with 862 apartments.
— Dana Bartholomew
The post LaTerra to clear offices for 230-unit apartment complex in Del Rey appeared first on The Real Deal.
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