The Los Angeles City Council has voted to adopt a Sustainable Communities Project Exemption for a proposed mixed-use project near the intersection of Wilshire Boulevard and La Brea Avenue, allowing the development to move forward without conducting a full environmental impact report.
The proposed development, which comes from local real estate investment firm CGI Strategies, is slated for a property located at 639 S. La Brea Avenue - directly north of the under-construction Wilshire/La Brea subway station. Plans call for the construction of a seven-story, 200,000-quare-foot structure containing 121 one-, two-, and three-bedroom dwellings; a 125-rooom hotel; and roughly 13,000 square feet of commercial space atop a two-level, 192-car parking garage.
In exchange for Transit Oriented Communities housing incentives, CGI would set aside 14 residences as subsidized affordable units.
Project construction is expected to occur over approximately 24 months. CGI anticipates completion in 2023 - roughly concurrent with the opening of Wilshire/La Brea Station.
The project is one of a handful of large mixed-use projects in the works for the Mid-Wilshire and Beverly Grove neighborhoods. Just a few blocks west, a 42-story residential tower is slated to replace a Staples office supply store at Wilshire Boulevard and Cochran Avenue.
Many of CGI's recent investments have been in the Koreatown neighborhood. The company has recently completed two multifamily projects, and recently broke ground in late 2019 on two additional buildings containing nearly 200 apartments.
- 639 S. La Brea Avenue (Urbanize LA)