The project, located at 1363 W. Colton Street, will stand seven stories upon completion, featuring 47 studio, one-, and two-bedroom apartments and parking for 25 vehicles.
The project was entitled with Transit Oriented Communities housing incentives, allowing relief from certain zoning restrictions, in exchange for setting aside four apartments for households earning 30 percent of less than the area median income.
DE Architects designed the podium-type building, which is depicted in renderings as a contemporary mid-rise structure - clad with plaster and corrugated metal siding - capped by a rooftop amenity deck.
The 1363 Colton project is one of roughly a half-dozen similar multifamily residential buildings now rising near Vista Hermosa Park. Aragon Properties Corp. broke ground last year on two buildings containing 120 apartments a block east, and 4Site Real Estate is well into construction on 54 apartments a block north on Court Street.
Bond Companies, which is headquartered in Chicago, previously developed housing on a wedge-shaped site in Historic Filipinotown.
The company's next project is slated to be a 200-unit mixed-use building just north of Sunset Boulevard in Hollywood.
- 1363 Colton Street (Urbanize LA)