A developer has plans for a four-story, 23-unit apartment project just south of Victory Boulevard in the Van Nuys neighborhood, according to a planning case opened by the city of Los Angeles last month.
The project, which would rise at 14706 – 14712 Friar St., is being proposed by site owner and applicant Friar Equity Partners LLC, a company organized by Danny Pakravan, state business filings show. The developer for the project is shown as Van Nuys-based company Topanga Partners.
The project would replace an approximately 12,500-square-foot parking lot near the southwestern corner of Friar Street and Cedros Avenue with a 41-foot-tall, roughly 30,000-square-foot apartment building.
The developer is requesting Tier-3 project incentives under the city’s Transit Oriented Communities Incentive Program, including a 22-foot height increase, 30-percent side yard and 25-percent open space reductions, and a 70-percent density bonus, plans show. Per TOC requirements, it would reserve three of the proposed development’s 23 two-bedroom units for extremely low-income households.
“These incentives are necessary to build a well-designed residential development that will provide livable market-rate and affordable dwelling units of sizes that are marketable and desirable to the community,” the project team writes in application filings.
The community would also offer about 5,100 square feet of common open space, including amenities such as sun decks, a courtyard and fire pit, and a gym.
Plans call for 25 automobile parking spaces in one underground parking garage level and 26 bicycle spaces.
Designs for the Friar Street project are being led by project architect Daryoush Safai and landscape architect Harmony Gardens.