Yet another blighted property near the Red Line's Hollywood/Western Station is slated to give way for a mixed-use development.

Earlier this month, the City of Los Angeles issued a grading permit for 5400 Hollywood Boulevard, a proposed low-rise residential-retail complex.  The project, which is being developed by the nonprofit Meta Housing Corporation, would consist of a five-story structure featuring 40 units of affordable housing and 3,300 square feet of ground-level retail space.

The modern low-rise development, designed by Y&M Architects, will include one-, two- and three-bedroom floor plans.  The project, which is being constructed to LEED Gold standards, will also offer amenities such as a roof deck, a children's play area and an on-site laundry facility.

5400 Hollywood Boulevard is Meta Housing's second recent development in East Hollywood, following a 120-unit senior housing complex which opened in 2012.  The neighborhood has also become a target for market rate developers as well, exemplified by a $100 million residential community now under construction near the historic Mayer Building.

5400 Hollywood Family Apartments (Image: Meta Housing Corporation)

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10-Story Apartment Building Proposed at 12th & Grand

A 37-story tower had previously been pitched for the property.

Three years after bursting on the scene with plans for a high-rise development near Staples Center, the local subsidiary of a Chinese real estate firm has instead opted for a more modest project in South Park.

Earlier today, City Century submitted an application to the L.A. Department of City Planning for the construction of a 10-story building at 1201 S.