Just east of MacArthur Park, wood framing is rising above the concrete podium of a new mixed-use apartment building.
The project, now taking shape on a corner lot at the intersection of 6th Street and Westlake Avenue, will eventually consist of a six-story podium-type building featuring 63 apartments above parking and 1,200 square feet of ground-floor retail space.
Though a by-right project, the building is designed using Transit Oriented Communities guidelines to permit a larger structure than allowed by zoning rules. In exchange, seven of the new apartments will be set aside as deed-restricted affordable housing.
Los Angeles County Assessor's records list the owner of the development site as an entity affiliated with the Irvine-based real estate investment firm Sperry Equities. The property was acquired for $5.9 million in August 2019.
A LoopNet profile advertising the property's ground-floor commercial space lists its expected completion date as October 2022.
The project is located near new affordable housing developments taking shape 437 and 619 S. Westlake Avenue, as well as the future site of a market-rate apartment complex with retail space is at 1701 W. 6th Street.