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A trio of small multifamily buildings on the border between East Hollywood and Koreatown have bitten the dust, and a new small lot subdivision is rising in their place.

The project, which comes from local developer Index Real Estate, is located at 733-743 N. Gramercy Place.  Plans call for  11 single family residences featuring over 26,000 square feet of livable space.

Los Angeles-based SO|DA Architects designed the project, which is portrayed in renderings as a series of contemporary three-story buildings.

According to RSE Capital, which provided a $10-million construction loan for the project at a 75 percent loan-to-cost ratio, completion is anticipated in the third quarter of 2018.

 

Rendering courtesy of Square One & SO|DA Architects
Rendering courtesy of Square One & SO|DA Architects
Rendering courtesy of Square One & SO|DA Architects
Rendering courtesy of Square One & SO|DA Architects
Rendering courtesy of Square One & SO|DA Architects
Rendering courtesy of Square One & SO|DA Architects

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Senior Affordable Housing Opens Near Orange County's Great Park

The two-building development features 157 apartments.
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Developers Related California and FivePoint have opened a new affordable housing complex near Irvine's Great Park.  The project, called Luxaira, features 157 residential units catering to low-income seniors.  It is the second senior affordable development to be built in the Great Park neighborhoods by Related, FivePoint, and collaborator RCC Charitage.  To date, more than 500 affordable housing units have been built around the park in four separate projects.