MacArthur Park’s growing pipeline of residential development just got a little bigger with a proposal for a 60-unit residential project.
The property owner, Sanover Enterprise LLC — which is run by Bob Halavi with PPI Capital — is planning for six-story construction at 827 S. Grand View Street. Sanover purchased the site in 2017 for $1.23 million, records show.
The construction plan includes 34 market-rate units and six affordable housing units. The project will utilize bonuses from the city’s Transit-Oriented Communities program, which gives incentives for developments that include affordable housing and are near public transportation stops.
The two buildings with a total of 11 residential units would be demolished if the plan is approved.
Home prices and rents have both jumped in the MacArthur Park and Westlake areas, as development has continued. Last year, Datum Development said it was planning a 288-unit Transit-Oriented Communities mixed-use project with 7,843 square feet of ground floor retail space in MacArthur Park.
The Lake on Wilshire development is also set to add a 41-story apartment, a 220-room hotel and an 850-seat theater. And earlier this month, Albert Ganjian and Hoover 719 LLC filed plans to build 38 condo units on Hoover Street.