Weeks after upsizing a proposed apartment complex near the intersection of Olympic Boulevard and Manhattan Place in Koreatown, Jamison Services, Inc. will now take over plans for a development across the street.
The .81-acre project site, located at 3323 W. Olympic Boulevard, was entitled by investment firm Bastion Development Corp. for the construction of a seven-story building featuring 114 apartments - including eight affordable units - above ground-floor retail space. According to an application submitted yesterday to the City of Los Angeles by Jamison Services, revised plans for the property now call for a slightly larger development featuring 118 apartments - including 12 to be reserved for extremely low-income households.
The current project makes use of the City's Transit Oriented Communities guidelines, which provides more generous incentives than the Density Bonus program employed by Bastion.
Combined with the proposed development across the street, Jamison has proposed the construction of 238 apartments at the intersection of Olympic and Manhattan.
The two projects are among dozens of mixed-use and multifamily residential buildings planned by Jamison in the Koreatown neighborhood.
Bastion, the Vancouver-based real estate investment firm which previously entitled the property, is also planning apartments in the Palms neighborhood.