Five months after announcing the acquisition of a new development site near the intersection of Washington and Lincoln Boulevards in Del Rey, Los Angeles-based LaTerra Development has finally initiated the entitlement process for the property.
This week, an entity affiliated with LaTerra submitted an application to the L.A. Department of City Planning seeking approvals for a new apartment complex at 4112-4134 Del Rey Avenue. The proposed project would consist of a six-story building featuring 210 one, two-, and three-bedroom apartments, as well as parking for 252 vehicles in a central parking garage.
In exchange for density bonus incentives, permitting a larger development than otherwise allowed by zoning rules, LaTerra would be required to set aside 18 of the new apartments aside for rent as deed-restricted very low-income affordable housing.
The design of 4112 Del Rey is described as being of the California Coastal modern style, with an exterior of plaster, fiber cement panels, wood, glass, and metal. In addition to housing, plans call for on-site amenities including a courtyard with a fire pit, a paseo along the eastern boundary of the site, a gym, a lounge, and a rooftop pool and spa deck.
LaTerra's plans represent the latest step in an ongoing transformation of the formerly industrial blocks to the east of Lincoln Boulevard in Del Rey. Numerous properties once improved with warehouses and small offices have made way for new residential developments such as those from California Landmark Group, which has recently completed the 230-unit G8 apartments and the 51-unit C1 development. Nonetheless, the neighborhood also remains home to a number of flex-style office developments, including a 123,000-square-foot campus that recently broke ground one block to the east on Glencoe Avenue.