Per an LADCP case filing from last month, a sizeable multi-family residential development is headed to the western edge of Koreatown.  The apartment complex, pegged for an approximately one-acre property at 700 South Manhattan Place, would offer 162 residential units within a seven-story structure.  The project site, currently developed with surface parking and a nondescript two-story structure, spans slightly more than one acre near the intersection of Western Avenue and 7th Street.  Residents would be located just one block south of the Purple Line's current Wilshire/Western terminus, offering quick service to Downtown Los Angeles and connections to all other points on the Metro Rail network.

The new development is situated in a highly walkable section of Koreatown, with a slew of stores and eateries strewn about surrounding blocks.  Unsurprisingly, other multi-family projects area slated for the neighborhood.  The locally-based Hankey Group is in the planning stages for a similar low-rise residential development, intended for a long vacant property at the corner of Wilshire Boulevard and Hobart Avenue.  South along Western Avenue, a 79-unit mixed-use complex is proposed across the street from Koreatown Plaza.

(UPDATE) An e-mail tipster has noted the following about 700 S. Manhattan Place:

"The project requests three variances: (1) to allow an approximately 35% increase in density; (2) to average floor area ratios across residential and commercial zones; and (3) to permit vehicular access for a commercial zone from a residential zone. Probably not coincidentally, these variances would be available to the project as Density Bonus incentives if the project provided affordable housing.  Density Bonus projects providing a certain amount of units covenanted for very-low or low income households are entitled to a 35% increase in density, FAR averaging and parking access from a less restrictive zone.  The variance filing appears to be a means of avoiding providing affordable units."