After more than one year of construction, the wooden skeleton of a multifamily residential complex from Clearinghouse Community Development Financial Institution is beginning to take shape in Koreatown.
The project, which replaced a surface parking lot at 744 S. Mariposa Avenue, will consist of a six-story edifice featuring 31 studio and one-bedroom apartments above a two-level subterranean parking garage.
A rendering of the project, which is designed by JPark Architects, depicts a contemporary low-rise building.
The development site is located on the eastern perimeter of the Normandie-Mariposa Historic District, a two-block area between 7th and 8th Streets which is comprised largely of 1920s and 1930s apartment buildings. The 744 Mariposa apartment complex is one of just a handful of new developments within the district in the past 80 years, although Jamison Services, Inc. has proposed the construction of two similar projects on a pair of neighboring parking lots.
Clearinghouse, which is headquartered in the Orange County community of Lake Forest, was attracted to the project site due to its location within an opportunity zone, the developer announced in late 2019.
Other projects in development nearby include a handful of mixed-use apartment buildings now under construction along 8th Street, as well as a series of high-rise buildings slated to replace parking structures along 7th Street.
