Across the street from Sony Pictures Studios in Palms, a stretch if commercial buildings has been razed to make way for a mixed-use apartment complex from Los Angeles-based developer Helio.
The project, now underway at 10505 Washington Boulevard, calls for the construction of an eight-story building featuring 184 studio, one-, and two-bedroom apartments above approximately 5,000 square feet of ground-floor commercial space and parking for 170 vehicles. Helio recently obtained a $92-million construction loan for the development.
Project approvals granted by the City of Los Angeles include Transit Oriented Communities incentives allowing for the construction of a larger building than would otherwise be permitted by zoning rules. In exchange, 19 of the new apartments would be set aside for rent as deed-restricted extremely low-income affordable housing.
Reed Architectural Group is designing 10505 Washington, which is depicted in plans as a contemporary podium-type building. Plans show amenities including a courtyard and interior recreation spaces.
The project is the latest from Helio in the Palms neighborhood, following numerous projects on a nearby stretch of Overland Avenue.
The project is also the latest in a string of developments located opposite Washington Boulevard from Sony Pictures Studios, following a similar mixed-use project with 135 homes and commercial space on the former site of a bank to the west of Helio's site, as well as two recently-completed residential-retail developments at Washington's intersection with Motor Avenue.
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- Palms (Urbanize LA)