Los Angeles-based real estate investment firm ABS Properties is planning a mixed-use housing development near Thai Town and Metro's Hollywood/Western subway station.
The L-shaped property, located at 1657-1665 N. Western Avenue, currently functions as a surface parking lot. Plans filed yesterday with the City of Los Angeles call clearing the approximately 27,000-square-foot site to make way for the construction of a multi-story building containing 95 residential units and approximately 13,192 square feet of ground-floor commercial space.
Requested entitlements include density bonus incentives allowing for additional height and floor area, as well as a reduction in on-site open space. In exchange, ASB would reserve 14 apartments for low-income tenants.
The property - which sits directly across the street from the entrance to Hollywood/Western Station - was previously entitled by ABS for development in 2017. Approved plans would allow for the construction of a six-story structure containing 91 housing units and approximately 15,300 square feet of ground-floor retail space.
The proposed development would rise just south of Hollywood Boulevard, where Atlanta-based Wood Partners a larger 280-unit residential-retail complex approximately two years ago.
Two blocks south at the intersection of Western Avenue and Sunset Boulevard, work has resumed at the long-delayed Hollywood Target, and two mixed-use apartment buildings are slated to replace shopping centers.
- Hollywood (Urbanize LA)