Jamison Services, Inc. has purchased an entitled development site in Koreatown for $14 million, reports the L.A. Business Journal.

The property, located at the southeast corner of 8th Street and Harvard Boulevard, is entitled for the construction of a six-story building featuring 131 residential units and 7,000 square feet of ground-floor commercial space.

Archeon Group, a Koreatown-based architecture and planning firm, has generated preliminary designs for the project.