A developer with a penchant for building big projects in Koreatown is looking to add new housing to the neighborhood on a surface parking lot just north of Wilshire Boulevard.
Last week, an entity affiliated with Hankey Investment Company submitted an application to the Los Angeles Department of City Planning seeking approvals for a new project at 638 S. Berendo Street. The proposed development would consist of an eight-story structure featuring 163 studio and one-bedroom apartments above semi-subterranean parking for 103 vehicles - the bulk of which would be replacement parking for an adjacent commercial building.
Requested approvals include Transit Oriented Communities incentives to permit a larger structure than local zoning rules would normally allow. In exchange 18 of the apartments are to be reserved as extremely low-income affordable housing for a period of 55 years at completion.
Architectural plans included with the entitlement package depict 638 Berendo as a contemporary podium-type building, clad in painted plaster, and incorporating amenities including recreation rooms, a terrace deck, and a courtyard.
The proposed project is the second slated for the property at 638 Berendo in two years, following plans last year which called for the construction of a 22-story tower with 343 apartments on the site.
Hankey's other major projects in Koreatown include the 25-story Kurve development at 2900 Wilshire Boulevard and a 490-unit development now taking shape next to Vermont/Beverly Station. Those projects were Hankey's third development in partnership with Jamison Services, following the Circa apartment towers in Downtown Los Angeles.
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