On the border between Koreatown and Harvard Heights, the wrapping is off at a new mixed-use apartment complex now being built by developer Bando Dela Corp.
Located on the south side of Olympic Boulevard between Serrano Avenue and Hobart Boulevard, the new seven-story edifice replaces a handful of small commercial buildings with 252 studio, one-, and two-bedroom apartments above 32,100 square feet of retail space on its first two floors and parking for 311 vehicles.
As a condition of approval imposed by the City of Los Angeles, Bando Dela will be required to aside 46 of the apartments as deed-restricted affordable housing at the very low-income level at completion. The provision of on-site affordable housing made the project eligible for density bonus incentives permitting a larger structure than otherwise allowed under zoning rules.
Archeon Group designed the contemporary podium-type building, which is clad in a combination of stucco and metal panels. Architectural plans show amenities such as a rooftop deck and a courtyard swimming pool.
Bando Dela Corp., which is based out of an office building in Koreatown, reportedly purchased the development site with entitlements for $20.3 million in mid-2019.
The project site sits within walking distance of two additional multifamily housing developments built by Jamison Services, Inc., including a mixed-use project at 3060 Olympic Boulevard.
- 3170 W. Olympic Boulevard (Urbanize LA)