Los Angeles-based real estate investment firm CGI Strategies has broken ground on a $50-million apartment complex in Koreatown.
The project, located on adjacent sites at 837 S. Fedora Street and 840 S. Mariposa Avenue, will consist of two seven-story buildings featuring a combined total of 182 apartments - including a 10 percent affordable housing component - above two levels of basement parking.
KFA Architecture is designing the projects, which will offer a mix of studio, one-, and two-bedroom floor plans ranging from 622 to 1,000 square feet in size. Other project components include a fitness center, a community lounge and clubhouse, an exterior courtyard, and a rooftop deck.
The Fedora project is the third Koreatown development from CGI Strategies, which is wrapping up work at the Mariposa - a 121-unit apartment complex with retail at 3rd Street and Mariposa Avenue - and Kodo - a 60-unit building which was sold earlier this year for $30 million.
CGI is also developing a hotel and housing development adjacent to Metro's under-construction Wilshire/La Brea Station.
Frymer Construction is serving as the general contractor for the Fedora project, which is slated to be completed in April 2022.