The Los Angeles planning department has given approvals to plans for a five-story, 18-unit apartment project in the Boyle Heights neighborhood, according to a determination letter posted by the city this month.
The owner and developer behind the project is Canon Equity Partners, a Beverly Hills-based real estate investment firm. Its plans for the project site of 2426 Cincinnati St. will replace a pair of single-family homes with an approximately 17,000-square-foot, 60-foot-tall residential building with nine parking spaces.
Approvals given this month allow for Tier-3 project incentives under the city’s Transit Oriented Communities Incentive Program, including a reduced parking minimum ratio of half a space per unit as well as a 25-percent reduction in required open space. Per TOC requirements, the developer will reserve two units for extremely low-income households, plans show.
Designed by El Bayar Design & Development Group, the new apartment community will hold two studios, 10 one-bedrooms, four two-bedrooms, and two three-bedrooms. It will also contain space for 20 bicycles, plans show.
Canon Equity Partners’ development will rise next to another recently approved 18-unit project: an affordable housing community planned for 2432 Cincinnati St.
