The Los Angeles planning department has given approvals to plans for a four-story, 23-unit apartment development near the Van Nuys intersection of Victory Boulevard and Cedros Avenue, according to a determination letter posted by the city this month.
The proposed project is being planned by applicant and property owner Friar Equity Partners LLC, a company organized by Danny Pakravan, and it will take shape at 14706 – 14712 Friar Street, a parking lot near the southwestern corner of Friar Street and Cedros Avenue.
The developer for the planned project is listed as Topanga Partners, a company founded and led by Steve Friedmann.
Approvals given this month allow for Tier-3 project incentives under the city’s Transit Oriented Communities Incentive Program, including a 10-unit, or roughly 70-percent, density bonus; a 25-percent reduction in required open space to about 2,150 square feet; and an 11-foot height increase to 41 feet, plans show. Three apartments will be reserved for extremely low-income households in accordance with the TOC program.
Plans call for 23 two-bedroom apartments spread across four levels of residential space, all above an underground parking garage with space for 25 vehicles. The development will also provide 26 bicycle spaces.
Amenities will include balconies and a roof deck.
Project designs are being led by project architect Daryoush Safai and landscape architect Harmony Gardens.