A large dirt pit that spans a full city block at the intersection of Olympic Boulevard and Vermont Avenue is one step closer to being filled with housing and commercial space, Priority Capital Advisory announced this month.

On April 2, PCA announced a $21-million land and predevelopment loan for the recapitalization of the Link Kora site at 1000 S. Vermont Avenue. The project from Grubb Properties, which will span 2.1 acres, calls for the construction of a seven-story building featuring 241 studio, one-, and two-bedroom apartments above ground-floor commercial space when completed.

Aerial view looking northeastUrban Architecture Lab

“Priority Capital is pleased to have arranged creative land and predevelopment financing on behalf of Grubb Properties for this very prominent project in the heart of Koreatown,” said Priority Capital Advisory president Zachary Streit in a news release. “Financing land in today’s market is challenging and our extensive process emphasized the strength of the project and the borrower. Ultimately, we sourced a lender who provided additional needed runway for Grubb to complete predevelopment activities and break ground in the near term.”

At the time Grubb Properties acquired the  site in 2022, it was announced that Target was expected to anchor the ground floor of the building.

Looking southeast from Olympic and VermontUrban Architecture Lab

Construction of Link Kora is expected to kick off in September 2025 and be completed by July 2028.

Grubb Properties, which bills itself as a developer focused on middle-income housing, has four additional projects in the works within the City of Los Angeles. Those include a 77-unit building slated for a nearby site on Berendo Street in Koreatown, a 128-unit mixed-use building on Lankershim Boulevard in North Hollywood, 151 apartments on Vine Street in Hollywood, and a 70-unit building north of the US-101 freeway on Western Avenue. Outside of Los Angeles, the developer has plans for a mixed-use apartment complex in Santa Monica.

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