Newport Partners founder Monique Hastings and 1141 S. Crenshaw Boulevard
Newport Partners’ affordable development wing Domus Management Company is planning a 43-unit project on the border of Mid-Wilshire and Arlington Heights.
The Irvine-based firm wants to build the five-story complex on a parking lot at 1141 S. Crenshaw Boulevard, just north of W. Pico Boulevard, according to a filing with the Los Angeles Department of City Planning.
Newport picked up the Arlington Heights parking lot last fall for $3.5 million. It’s about a third of an acre between two parcels.
Domus is seeking the go-ahead to increase height and reductions in yard space and open space via the Transit-Oriented Communities program, which provides those incentives for building affordable units near transit. The project would have just eight parking spaces, and all units are planned as affordable.
It’s Newport’s second filing for an affordable project in the last month. In June the firm filed for a 75-unit project two miles away in Koreatown.
Recently, Los Angeles County made a push to promote affordable housing developments as the housing crisis continues and financing for these projects becomes harder to get. The county will finance six projects with a total of 577 units after approving around $50 million in loans for six affordable projects.