Less than a week after submitting an application to redevelop a commercial building in Hollywood with apartments, local real estate investors Bang Ja Kim has filed plans to construct another project on a neighboring property.
The proposed development, which would replace a vacant lot at the intersection of St. Andrews Place and Virginia Avenue, calls for the construction of a six-story, 64-unit apartment building with 57 parking spaces. Kim is seeking entitlements for the project with incentives through the Transit Oriented Communities guidelines, which would be provided in exchange for setting aside seven apartments for extremely low-income households.
Los Angeles-based architecture firm PQNK is designing the development, which is called 5530 Virginia Avenue. A rendering shows a grey and white structure with flourishes of red and yellow.
A timeline for the project has not been announced.
The project would rise across the street a proposed mixed-use complex which would incorporate a former Sears department store.
Source: Urbanize LA