A property near the intersection of 74th and Figueroa Streets in the Vermont Knolls neighborhood could be redeveloped with multifamily housing and ground-floor commercial uses, per an application submitted in January to the Los Angeles Department of City Planning.
The property, located at 7408-7412 S. Figueroa Street, is currently developed with three residential units, built between the 1930s and 1940s. BRK, Inc., the owner of the property, hopes to raze the existing structures to make way for a new five-story edifice containing 45 studio, one-, and two-bedroom apartments above approximately 1,000 square feet of ground-floor retail space and podium parking for 35 vehicles.
Requested entitlements for the project include Transit Oriented Communities development incentives, which would permit an increase in allowable and height, as well as a decrease in required on-site open space, relative to zoning requirements for the property. In exchange, BRK would set aside six apartments as deed-restricted affordable housing.
The Code Solution is designing the proposed development, is depicted in renderings as a narrow podium-type building clad in stucco, concrete, wood siding, and brick. A landscaped amenity deck would be located at the roof level, according to architectural plans.
BRK, which is based out of Beverly Hills, acquired the roughly quarter-acre development site for approximately $785,000 in 2018, according to city records.
- Vermont Knolls (Urbanize LA)