Continental Partners has announced $8.4 million in construction financing for a multifamily residential development in Westlake.
The proposed development, slated for two parcels at 218-224 S. Occidental Boulevard, calls for the construction of a six-story, 47-unit apartment complex with underground parking. The project site is currently improved with two 1940s residential buildings, totaling 16 units. Both would be demolished to allow construction to proceed.
A timeline for the development has not been announced.
The new apartments would be located a short distance north of Lafayette Recreation Center, where a slew of mixed-use developments are currently planned or underway. Most notably, a 31-story apartment tower could rise directly across the street from the park.
- Westlake/MacArthur Park Archive (Urbanize LA)