A commercial building adjacent to Chinatown's bustling Dynasty Center could give way for a mixed-use development.

Yesterday, plans were filed with the City of Los Angeles to construct a seven-story structure at the northwest corner of Alpine and North Spring Street.  The proposed development would create 122 residential units above 4,200 square feet of retail space and three levels of underground parking for 120 vehicles and 124 bicycles.  Plans also call for residential amenities and six units of very low income housing.

The project is being developed by Grand Pacific 7-28, a limited liability company linked to prominent Downtown landlord Izek Shomof.  Shomof, who has substantial holdings in the Historic Core, recently sold a controlling stake in a proposed 34-story tower on Broadway to a Chinese real estate firm.

The property lies one block of south of Chinatown Station, where work was recently completed for the $100-million Blossom Plaza development.  On the opposite side of Spring Street, a nearly century-old building was converted to senior apartments in 2013.

Looking to seize on this momentum, firms such as Atlas Capital Group and Avant Development have also begun planning similar projects in the neighborhood.