Advertisement

Last week, an entity known as IDS Group Investments, LLC filed an application with the Department of City Planning to construct a mixed-income apartment complex in the MacArthur Park district.

Slated for a property at 971 S. Hoover street, the proposed six-story building would feature 39 apartments - including four units that would be reserved for extremely-low-income households - and parking for 24 vehicles.  The project would require the demolition of a sanitarium, which occupies two multifamily buildings built in 1907 and 1927.

IDS is pursuing entitlements through the City's Transit Oriented Communities program, which allows for increased density and relief from certain zoning requirements to projects that provide affordable housing.

The development site is located just north of the intersection of Hoover and Olympic Boulevard, where a proposed seven-story development featuring 173 residential units and 37,000 square feet of ground-floor commercial space recently received sign-offs from the Los Angeles City Planning Commission.

971 S. Hoover Street. Image via Google Maps.

This Week in Leases - September 22, 2018

The Pacific Design Center's RedBuilding fills out.
bar

Independent entertainment company A24 will relocate its offices to the Pacific Design Center's RedBuilding in West Hollywood.  The company, which is relocating from an existing facility on Beverly Boulevard, has leased the entire 12th floor of the RedBuilding, amounting to a 25,000-square-foot office.