Jamison Services, Inc. has broken ground on a mixed-use development at the intersection of Vermont Avenue and James M. Wood Boulevard in Koreatown.
The project, which replaces a vacant lot, calls for the construction of a six-story building featuring 193 apartments - including 20 extremely low-income affordable units - above 19,000 square feet of ground-floor retail space and a two-level, 249-car basement parking garage.
The contemporary podium-type building is being designed by LARGE Architecture. Plans show that the building would be clad with a mix of plaster and metal panels, with an array of amenities that includes a rooftop deck.
Completion is anticipated in approximately 22 months, according to a representative of the developer. The Real Deal reported last month that the Jamison secured a $48-million construction loan for the project.
The two firms are building a similar mixed-use project less than a mile west at the intersection of 8th Street and Harvard Avenue. LARGE is also designing a 23-story tower that Jamison is developing at 2900 Wilshire Boulevard in a joint venture with Hankey Capital.
The project at James M. Wood and Vermont sits across the street from another under-construction development that will feature a supermarket, office space, and parking.
