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.

Image via Continental Partners
Image via Google Maps

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Six-Story Apartment Building to Rise on Westlake Parking Lot

Another project through the Transit Oriented Communities program.

A 9,300-square-foot surface parking lot in Westlake is slated for development, according to plans filed last week with the City of Los Angeles.

The property, located at 366 S. Loma Drive, could see the construction of a six-story building featuring 39 apartments - including affordable units - above a partially subterranean parking garage.