Markwood gets approval for 84 apartments at 400 E Adams Boulevard

Beverly Hills-based real estate investment firm Markwood has secured city entitlements for the construction of a new multifamily residential complex Historic South-Central, according to a letter issued in early December by the Planning Department.

The project, announced in November 2021, will rise from a corner property located at 400 E. Adams Boulevard, replacing an automobile repair shop. Approved plans call for razing the existing garage to clear the way for a new five-story building featuring 84 studio and one-bedroom apartments above parking for 42 vehicles.

Markwood's entitlements include Transit Oriented Communities incentives permitting a larger, denser development than zoning rules would normally allow. In exchange, eight of the proposed apartments are to be set aside as affordable housing at the extremely low-income level. While the remaining units would not be subject to income restrictions, Markwood indicated that it would set prices to cater to households earning between 120 and 150 percent of the area median income.

AERO Collective and executive architect AO on the project, which will consist of four levels of prefabricated modular units above a concrete podium. Per a project landing page on the AERO Collective website, plans also call for a rooftop amenity deck.

At the time the project was announced, Markwood expected to secure permits for construction in approximately 15 months, and complete work roughly one year after that point.

Although it is Markwood's first South Los Angeles project, the developer has familiarity with mixed-income apartment buildings. Markwood is currently in construction on a mixed-use project at the intersection of Santa Monica Boulevard and Barrington Avenue in Sawtelle, and has plans for a 66-unit apartment complex at Melrose and La Brea Avenues.

• Modular workforce housing development pitched for Historic-South Central (Urbanize LA)