Developer Proposes 53-Unit Mixed-Use Project In South LA

A developer has submitted plans for the construction of a five-story, 53-unit mixed-use project at 7311 – 7317 S. Figueroa St. in South Los Angeles, according to a planning case filed by the city this month. The applicant and owner of the project is listed as Yoav Atzmon of 853 West 5th Street LLC, which state filings show is registered to the LA address of real estate capital advisory company Mansfield Equities.

Plans call for demolishing the 12,480-square-foot project site’s existing three structures, which include three units and one small commercial building, to make way for the construction of a roughly 27,000-square-foot, 56-foot-tall residential building. The applicant is requesting Tier-2 project incentives under the city’s transit-oriented communities program, including an 11-foot height increase.

It would feature 37 studios, nine one-bedrooms, six two-bedrooms, and one three-bedroom over a ground floor level of parking, common space, and 777 square feet of commercial space, plans show. The studios would range from about 320 square feet to 350 square feet, while the other units would range from roughly 350 to 910 square feet.

The project would provide 33 parking spaces between the ground and second floors, along with 64 bicycle spaces. It would also offer residents about 2,300 square feet of rooftop open space, a 690-square-foot courtyard, and private balconies.

Matt Kim and Liz Jun of commercial real estate services firm The Code Solution are listed as project architect and project representative, respectively.

Los Angeles County property records show that 853 West 5th Street LLC acquired the two-parcel, three-building project site for about $970,000 in separate transactions in 2018.