Local real estate firm Jamison Services is continuing its multifamily residential building spree, with yet another mixed-use development planned in Koreatown.
Yesterday, the company filed plans with the City of Los Angeles to construct two high-rise buildings adjacent to the Wilshire Financial Tower, an early 1960s office complex at 3600 Wilshire Boulevard. The proposed development would start with the demolition of the building's parking garage, followed by the construction of two 23-story towers featuring a combined 760 dwelling units above roughly 6,400 square feet of street-level commercial space.
The proposal would require the rezoning of the 7th Street side of the property, which is currently limited to use as a parking structure.
Further details about the project are currently unavailable.
With flagging demand for Koreatown's traditional office stock, Jamison Services has recently moved to reposition many of its underutilized properties as apartments to take advantage of the hot rental market. This includes the conversion of multiple office buildings along the Wilshire Corridor, as well as plans for several high-rise projects.
- CPC-2016-3412-VZC-HD-ZAA-SPR (LADCP)