Construction is scheduled to begin this week for a mixed-use development just south of Wilshire Boulevard in Koreatown.
The project, called Nexen, will rise from a 1.2-acre site at 2938-2972 W. 7th Street which was previously developed with a parking lot and a single-story commercial building. Plans call for the construction of a seven-story edifice featuring 228 apartments, 7,800 square feet of ground-floor retail space, and parking for 229 vehicles.
Plans call for a mix of studio, one-, and two-bedroom apartments - including 23 to be set aside for extremely low-income households over a period of 55 years.
MVE + Partners is designing the contemporary podium-type building, which will stand 91 feet in height. Architectural plans show amenities including a pool deck and courtyard, a roof terrace, an amenity lounge, and a fitness center.
City records list the project applicant as prolific Koreatown developer Jamison Services, Inc. Jamison is building the project as a joint venture with City Century.
A representative of Wilshire Construction, LP - the Nexen project's general contractor - estimates that construction will be complete in approximately 24 months.
The project site located just southwest of 2900 Wilshire Boulevard, where Jamison has teamed with Hankey Capital on the construction of a $300-million apartment tower.
- Koreatown (Urbanize LA)