A developer has plans for a six-story, 50-unit apartment project to replace a pair of retail buildings along Westwood Boulevard, according to planning documents posted by the city of Los Angeles this month.
The development would rise at 1555 – 1571 Westwood Blvd. and be led by project applicant and owner Sherwin Aryeh, planning documents show. The project site’s existing buildings, which hold multiple retail tenants, were acquired in 2016 and 2018 for a combined total of about $4.87 by a pair of companies managed by Aryeh, one of which is also registered at the address of Beverly Hills-based real estate investment firm Valore Ventures.
Designs for the proposed Westwood development are being led by architecture firm SG Design, with landscape architect SQLA also involved.
The development team is seeking Tier-3 project incentives under the city’s Transit Oriented Communities Incentive Program, including a 22-foot height increase to a maximum of 67 feet and an approximately 70-percent density bonus to the planned 50 units. Five apartments would be reserved for extremely low-income households in accordance with the TOC program, according to project application materials.
Plans call for 31 one-bedrooms ranging in size from 474 to 737 square feet, 18 two-bedrooms ranging from 773 to 1,139 square feet, and one 1,263-square-foot three-bedroom.
The 40,456-square-foot project would provide two levels of underground parking with space for 38 automobiles, as well as 47 bicycle spaces.
The project would also include 4,145 square feet of common open space in the form of rooftop decks, a recreation room, and other features.
