One block southeast of the busy intersection of Hollywood and Highland, Seattle-based developer Housing Diversity Corporation has wrapped up work on a first of its kind project in the L.A. area.
Premiere Hollywood, located on a corner parcel at 1621 N. McCadden Place, consists of an eight-story building featuring 69 micro-unit apartments and no on-site parking. The apartments, which average just 375 square feet in size, are accompanied by a 360-square-foot ground-floor retail space.
The project approved using Transit Oriented Communities incentives to allow relief from certain zoning rules and requirements. In exchange, eight of the residential units are set aside for rent by extremely low-income households. However, due to the small size of the apartments, the project is expected to offer lower rents than most new-build developments in Hollywood. At the time of its groundbreaking, the project was expected to cater to renters earning up to 120 percent of the area median income level.
Steinberg Hart is designing the podium-type apartment building, which includes five levels of wood-frame construction above a three-level concrete base. The more than 41,000-square-foot building occupies a less than 7,500-square-foot lot. Balconies are line the exterior of most units, while all residents have access to amenities such as a rooftop deck, a lounge, and co-working space.
Housing Diversity Corp., along with its partners STS Construction, is behind a slew of similar developments now planned or underway in Los Angeles. Those include two projects now underway on Flower Street and Grand Avenue in Downtown, as well as new buildings which would rise in Koreatown and on an adjoining property on McCadden Place.
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- 1621 N McCadden Place (Urbanize LA)