Over the past several years, a series of commercial developments have reactivated a series of parking lots along Koreatown's stretch of Wilshire Boulevard.  A local investor is now looking to spread that momentum south.

Yesterday, plans were filed with the City of Los Angeles to construct a residential-retail complex 1054 S. Vermont Avenue.  The project - which is being developed by 1054 Vermont, LLC - would consist of a seven-story structure featuring 228 condominiums, approximatley 53,000 square feet of retail space and a subterranean parking garage for 563 vehicles.

The proposed development would be contingent on a zone change for the property, which spans a full city block bounded by Olympic Boulevad, 11st Street, Vermont and Menlo Avenues.

A series of commercial buildings that currently occupy the property would most likely be demolished for the project.

West along Olympic Boulevard, a similar development from Jamison Services is already under construction.