An affiliate of commercial real estate company DCX Ventures has plans to develop a seven-story, 45-unit apartment project in Koreatown, according to application documents filed with the city of Los Angeles earlier this month.
The proposed project would replace a two-story, six-unit multifamily building at 832 S. Kenmore Avenue with a new, approximately 36,000-square-foot, 90-foot-tall apartment development holding a mix of studio apartments through three-bedrooms, plans show.
Designs for the proposed project are being led by Archeon Group, a company affiliated with the Koreatown-based developer.
The development team is seeking Tier-3 project approvals under the city’s Transit Oriented Communities Incentive Program, including a 19-unit density bonus and a reduction in the required number of parking spaces from 53 to 23. Five units would be reserved for extremely low-income households in accordance with the TOC program, according to application documents.
In all, the South Kenmore Avenue apartment community would contain six studio apartments, 25 one-bedrooms, 11 two-bedrooms, and three three-bedrooms over one level of subterranean parking. It would also provide about 4,100 square feet of open space including a roof deck, along with space for 44 bicycles.
The project site’s existing apartment building was acquired by an affiliate of DCX almost one year ago for $2 million, according to Los Angeles County property records.
