A collection of small commercial and residential buildings in Palms could make way for a mixed-use development, according to plans filed yesterday with the City of Los Angeles.
The project, which would rise from an approximately 30,000-square-foot site at 3565-3585 S. Overland Avenue, calls for the construction of a seven-story edifice featuring 119 apartments - including 11 affordable units - with 2,000 square feet of ground-floor retail space and parking for 125 vehicles. Buildings to be replaced include two fourplexes and two single-family dwellings.
The entitlement application was filed with requests for Transit Oriented Communities housing incentives, including relief from setback requirements.
Property records list the owner of the development site as a Century City-based entity called Palms Residential, LLC. The Real Deal reports that the entity is controlled by Oakmont Capital.
A handful of similar mixed-use and multifamily residential buildings are planned or in construction along the surrounding stretch of Overland Avenue, including a proposed eight-story development at Regent Street and a 41-apartment complex approved at Rose Avenue.
Another project, called the Roy at Overland, was recently completed across the street.
- Palms (Urbanize LA)