Local real estate development firm Pinyon Group has updated plans for a Gold Line-adjacent project in Lincoln Heights.
Yesterday, the Downtown-based company submitted a new entitlement application to the City of Los Angeles for 141 Avenue 34, an approximately five-acre property located just south of Heritage Square Station. Plans call for razing an existing industrial complex to make way for the construction of 468 apartments - including 66 very low-income affordable units - with more than 16,000 square feet of ground-floor retail space facing Pasadena Avenue.
KFA Architecture is designing the project, which will consist of five-story structures interspersed with more than 1.5 acres of publicly-accessible open space and 240 newly planted trees.
The project is considered an update to a previously entitled development at the same site, according to Andrew Brady, an attorney with DLA Piper who represents the applicant. The original plan - which employed density bonus incentives rather than the Transit Oriented Communities guidelines - called for nearly 100 fewer housing units and less than half the amount of affordable housing now proposed.
Additionally, Pinyon Group shrunk the height and total square footage of the project - including the loss of 30,000 square feet of office space in the original plan. This has resulted in a project anticipated to generate less automobile traffic, according to Brady.
A timeline for the 141 Avenue 34 development is unclear at this point in time, according to project representatives.
Pinyon Group's past work includes The Bend, a live/work housing project near the Los Angeles River in Frogtown.
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