Grubb Properties, a real estate development firm focused on middle-income housing, has plans for a vacant site in Koreatown.
Recently, the Charlotte, North Carolina-based company filed an application with the City of Los Angeles to construction an eight-story, 77-unit apartment building at 950 S. Berendo Street. The project, which would rise a short walk north of Olympic Boulevard, would also include 39 parking spaces in a two-level podium garage.
Grubb is pursuing entitlements using Transit Oriented Communities incentives to allow for a larger building than otherwise permitted under zoning rules. Eight of the new apartments would be priced for extremely low-income households in exchange for the incentives, offsetting the seven units which previously occupied the site.
Urban Architecture Lab is designing the apartment complex, which is depicted in renderings as a contemporary mid-rise structure with a U-shaped form wrapping a third-floor amenity deck. Plans also call for a dog run and a rooftop deck facing the northern property line.
While Grubb's project will only include eight income-restricted units, the company also does not aim for luxury rents in its market-rate units. Per its website, Grubb generally prices its apartments for households earning between 60 and 140 percent of the area median income, and caps rent increase for residents with tenancies of five years or more.
Grubb is also not the first property owner to try its hand at developing apartments at 950 S. Berendo Street. The site was previously entitled for the construction of a 75-unit apartment complex, which was slated to begin construction as early as September of this year.
- Koreatown (Urbanize LA)