A small commercial building at the intersection of Lexington and Vermont Avenues has bit the dust, and a multifamily residential development is set to rise in its place.
The proposed apartment complex, which comes from the Los Angeles-based real estate firm Giraffe, would consist of a six-story edifice featuring 29 residential units - including three which would be set aside as affordable housing - above parking and ground-floor retail space, a portion of which will be used as the developer's new headquarters.
The project, which is not yet approved by the City of Los Angeles, is being entitled with Transit Oriented Communities affordable housing incentives, allowing for increases in allowable density and floor area, as well as a reduction in required automobile parking.
Local architecture firm Yu2e, Inc. is designing the project.
The approximately $8-million project was expected to break ground in Summer 2020 at the time its application was submitted to the City of Los Angeles.
A handful of similar of mixed-use and multifamily residential developments are planned at nearby locations on Vermont Avenue, including an eight-story apartment complex which would replace a parking lot across the street.
- Mixed-Use Project Planned at Lexington and Vermont (Urbanize LA)