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The investor behind an approved 21-story condominium and hotel proposal for Koreatown now has plans for a shorter apartment building.
New plans filed last month by an entity managed by Leo Lee now call for an eight-story, 301-unit mixed-use apartment project at 3800 W. 6th Street, the current site of a vacant lot and surface parking, according to a planning case posted by the city of Los Angeles this month. The investor received approvals for a 122-unit condo, 192-key Hyatt Centric hotel project at the site in 2019.
Designed by TCA Architects, the new, roughly 216,000-square-foot, 103-foot-tall project would hold 151 studio apartments, 125 one-bedrooms, and 25 two-bedrooms, along with about 6,400 square feet of ground-floor retail and restaurant space.
The development team is seeking Tier-3 project incentives under the city’s Transit Oriented Communities Incentive Program, including a roughly 30-percent density bonus and a reduced required parking minimum. It would reserve 31 apartments for extremely low-income households in accordance with the TOC program, plans show.
Leo Lee couldn’t be reached for comment about the latest plans for 3800 W. 6th Street, and it’s unclear why the developer is shifting away from condos. As the residential market has heated up during the pandemic, condo sales, especially Santa Monica condos and condos in Los Angeles high-rises, have seen record-breaking prices.
Plans also call for about 23,000 square feet of common open space, with amenities slated to include a swimming pool, outdoor seating areas, a fitness area, and a sky deck.
The development’s commercial space would consist of about 2,000 square feet of retail and 4,100 square feet of restaurant uses.
In all, the project would provide one level of underground parking with about 160 spaces, along with space for 172 bicycles, plans show.
Irvine-based landscape architect BrightView is also involved in the proposed Koreatown project.