A couple blocks south of the Wilshire/Vermont subway station in Koreatown, work is quietly commencing for a mixed-use residential development at the former site of a multi-tenant retail center.
Local real estate firm Elk Development, the company behind the project at 730 S. Vermont Avenue, secured city approvals in March 2021 for the construction of a new seven-story building featuring 80 studio, three-, four-, and five-bedroom apartments above approximately 1,450 square feet of ground-floor retail space and parking for 70 vehicles.
Elk Development entitled the site using Transit Oriented Communities incentives to permit a slightly larger building than would normally be allowed by zoning rules. In exchange, eight of the new apartments are to be set aside for rent as affordable housing.
OfficeUntitled is designing the 730 Vermont, which would consist of five levels of wood-frame construction above a concrete podium. Renderings portray a contemporary low-rise structure with multiple amenity decks and terraces.
The project is the second project of this type from Elk Development and OfficeUntitled, joining a similar mixed-use housing complex now rising near the intersection of Sunset Boulevard and Highland Avenue in Hollywood.
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- 730 S Vermont Avenue (Urbanize LA)