An L-shaped property in Westchester is slated for rebirth as a residential-retail complex, according to plans filed yesterday with the City of Los Angeles.

The project, located at the corner of Sepulveda and Manchester Boulevards, would consist of a five-story building featuring 86 residential units over nearly 1,000 square feet of ground-level commercial space.  The proposed development would require a density bonus in exchange for providing eight units of very low income housing.

City records link the property to to Caladan Investments, LLC, a local real estate investment company.  It is currently improved with a small restaurant building, which has been vacant for several years.

The project site is located northwest of the La Tijera Apartments, a similar multifamily residential development from CIM Group.