A proposal to redevelop a stretch of commercial buildings at 3433 W. 8th Street in Koreatown has cleared another hurdle.
At its meeting on May 25, the Los Angeles City Planning Commission voted to support a proposal from Charles Park & Associates to build a new eight-story development dubbed "The Parks in LA." Plans call for 251 studio, one-, and two-bedroom apartments on the upper levels of the building, with approximately 61,000 square feet of commercial space to be located on the first and second floors. Parking for 284 vehicles would be located in two subterranean levels.
The proposed development relies on density bonus incentives to allow for a larger structure than otherwise permitted by zoning rules. In exchange, 29 apartments would be set aside for rent as very low- and extremely low-income affordable housing.
Corbel Architects is designing The Parks, which would include an interior promenade at street level, lined with shops and restaurants. Plans call for an also call for a central courtyard atop the building's podium, as well as other amenities like as a fitness center and a game room.
Construction of The Parks is expected to occur over an 18-month period, according to an environmental report adopted earlier this year by the L.A. City Council.
While the vote by the Planning Commission and City Council were important clearances, the project has not quite crossed the finish line. The general plan amendment and a zone change requested for the project will also require a Council-level approval.
The proposed project is the latest in a long series of new mixed-use projects to reshape the 8th Street corridor through Koreatown, including the Harper apartments at the opposite corner of 8th and Harvard and the Rise apartments one block to the west.
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