Construction is set to begin later this year for a new multifamily residential complex near the intersection of Lankershim and Magnolia Boulevards in North Hollywood, says Grant Keene of WJK Development.
The project, approved in April 2022 for a site located at 11043-11103 W. Hartsook Street, is being developed through a joint venture with Shahar Kalev of Pyramid Development, as well as HGTV star Tarek El Moussa through his company TEM Capital. Plans call for the construction of a seven-story, approximately 111,000-square-foot building featuring 138 studio, one-, and two-bedroom apartments above a two-level, 69-car subterranean parking garage.
Project entitlements include Transit Oriented Communities development incentives, allowing for greater height and density than normally allowed by zoning rules, as well as a decrease in required on-site parking. In exchange, 14 of the apartments are to be set aside as deed-restricted affordable housing at the extremely low-income level.
Sam Aslanian Architects is designing the proposed apartment complex, which is called Sofi. The contemporary podium-type building, in addition to housing, will feature multiple amenity decks, a rooftop pool, a recreation room, courtyards, co-working space, and a gym.
According to Keene, construction is set to begin in 2024, with completion anticipated to occur approximately two years afterward.
For some light reading about a prior owner of the site, look here.
The projects joins a handful of large multifamily buildings now in the works near the North Hollywood Metro station. A similar project with 128 apartments and retail is set to rise from the Laemmle NoHo 7 property at 5420 Lankershim, and Metro is partnering with Trammell Crow Company on a more than $1-billion project which could bring housing, offices, and other uses to the North Hollywood Station park-and-ride lot.
This article previously stated that the project was slated to break ground in Fall 2023. Keene has subsequently reached out to say that he misspoke, and the project is scheduled for construction in 2024.
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